K. Edwards Get Rich or Die Trading

Day Summary:

Sim P/L: $130.80
Points:
(1) +3 ticks x 2 contracts: +6 ticks
(2)+3 ticks x 2 contracts: +6 ticks
Total: 3.00 points (1 contract basis)

1.First trade wasn't a volume read, just noticed overnight ranged after 4am with high of 1105, so bought 05.25 touch got out at 1106 as volume picked up.

2. Second trade long 2 @ 1107.50 touch @ 9:37, new high on low vol, usual upside breakout scalp, got 3 ticks out at 1108.25 as volume picked up at 9:40.


9:47-9:58 very light vol, looked like the bots were turned off to wait for home sales and ism. Downside looked like it had potential but 22k contracts at 10:06 spooked me. Rather see a progressive selloff instead of all-in-one.
 
Quote from Kedwards:

note for myself: See if 1098.50 break up is clean move, no hesitation.
More...


Move was pretty clean, moved in conjunction with GC overnight breakout. GC running again tonight, if it stages a move up could carry ES to limit buy stops at 1112.25/1112.50. A quick upside scalp could probably be had there.
 
Sim P/L: +$186.60

3 trades.

1) Long 2 @ 1110.75 @ 9:37 touch of new high but as soon as it did volume came in and it sold off took a 1 pt loser. -$109.60 here.

2) Reading the tape and watching vol, felt bears were in control at 9:44 so sold 2 @ 1108 expecting it to head towards 9:30 open of 1107.25. Did exactly that but I wasn't hit on bid and saw the buyers come in on the tape so just took a 1 tick win. +$15.40 here.

3) 10:04 bought 1111.25 touch on low vol, the usual upside scalp. Watching the tape there definitely wasn't too much pressure on the sell side. I kept thinking, it just needs a decent push to 1112.25/1112.50 for the limit buys. Then by the grace of God at 10:10 the holiest of holies, it got to 1111.75 on the ask and barely any sells showed up and then the monster limits came through. 10:10:05-10:10:16 just monster size on the ask. Back to my trade, I actually bought 4 @ 1111.25, doubled the usual size, because I figured maybe we could get the 1112.25/1112.50 limits to push strong, and I could get a good winner. I still only got a point and a half, out at 1112.75, but because it was 4 contracts got $280.80.
 
Sim P/L: $80.80

Missed the open, but probably could have got a tick or two at 1107 touch at 9:35 and out with the volume in the same minute.

1)9:53 long 1110.25 but not convinced with flow, consistent selling coming in as exploring high, got out for 1 tick loser, -$34.60. Was a good read, price moved lower.


2) At 11:39, looked at the levels so far, figured 1105.25 touch would be a decent entry based on my volume read between 10:30-11:30. Earlier in the session I already entered a 1104.75 sell stop limit based on 10:06 low. So I didn't bother with 1105.25 sell stop limit. Anyhow I had to go do school shit so I just came back to see what happened. 04.75 touch got me short at 2:30, exited at @ 03.50 a minute later. I picked 03.50 exit just looking at levels from early morning, 6-7am based at 02.75 so I wanted to get out a little above. 05.25 would have been a better short entry no doubt. Wish I could import raw T&S data but can't with IB/Quotetracker. I doubt I would have exited at 03.50, probably earlier, depending on where size orders came in, and just feel of the flow really. Anyhow, this made $115.40.


Happy so far with volume reads, learning more/more confident every day. Going into end of the year, things looking up. Mom is happy, family business stuff looking up, finishing school shit and I'm in gym a lot cuz I got to visit with different girls in town for Christmas. Happy Holidays :)
 
1095 was a level I was looking to short in rth but it was taken out around 7:30 am. anywho, made 2 trades.

sim p/l: +$105.80


1) price moving lower off open, liked the way volume setup, put on sell stop 92.50 with exit at 91.25. Right before I got hit the damn internet copped, so when it came back a minute later see i was hit at 9:35, exit was 6 seconds later. A shame though, didn't even get to read the flow. +$115.40 here.

2) Few minutes later again liked the way volume setup, so put sell stop for 1089. Book was deep as hell, my aggregate data showed 8,269 hit on 1089 at 9:44:40. rather see moderate size come through on new low, collapse of price and then vol pickup. so I hastily took it off at scratch, with commissions lose $-9.60. Price did move to 87.75, but the flow wasn't favoring more selloff in the moment. Was a decent read, price made a nice little reversal.

If she explores downside, sell stop on 87.50, should see a little runoff, 20k contracts come through to support. On the upside, would look for something if she gets above 9:30 open of 1096.
 
Didn't get to trade today but I left my computer on so I could gather the time and sales. Morning selloff would have been profitable but only a couple ticks, size came in at the break of every level, no sudden drops on breaks, most of the sudden drops occured within the range after volume spikes.

Anyhow, 97.50 formed as a level since midday yesterday, overnight size, 709 as i speak, waits at 98, long 97.75 on the touch for a scalp. Just leaving it a resting order, won't be managing it with the flow.
 
Just happened to be looking at T&S and i see someone try to move 97.50 pretty convincingly. Got long 97.75 touch, took off for +1 pt.
 
2 trades early. Only difference, moved to 5 contracts.

sim p/l: $139.50

1) Bought 1104.25 touch @ 9:34:07, a lot of orders on the ask and it couldn't even move through 1104.50, first warning sign. 2nd warning, 9:34:28 i'm showing 2,438 contracts move. Usually don't see the size move until price moves a couple more ticks. So I took it off 1 tick loser. -$86.50 here.


2) buy stop limit 1104.75 touch at 9:36:16, got out at 9:36:42 @ 1105.75 as some size started to come in. Could have taken it it off for only 1 tick because size came in right at entry, but just from reading the volume bars, can't have an upside move like that without say 10k contracts, so I held. 1 point winner, +$226.00 here.
 
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