Trade Journal

New Position

MES - Short - 2920
SL : 2935
Target: 2913


Basis of Trade: ES broke off before market at 2925 yesterday with hardly any prints. I am expecting a bit of resistance there. Overall, I am bit bearish on MES and expecting to test 2800 first than 3000. If I am not bearish, this may actually be a good long setup

What I don’t like about this trade:
a) Risk Reward is not in my favor. 2913, though is my first target and hoping to see 2900.


PS: I am also looking at buying QM, but I think I will get 52 to buy.
 
djay said:
New Position

MES - Short - 2920
SL : 2935
Target: 2913


Basis of Trade: ES broke off before market at 2925 yesterday with hardly any prints. I am expecting a bit of resistance there. Overall, I am bit bearish on MES and expecting to test 2800 first than 3000. If I am not bearish, this may actually be a good long setup

What I don’t like about this trade:
a) Risk Reward is not in my favor. 2913, though is my first target and hoping to see 2900.


PS: I am also looking at buying QM, but I think I will get 52 to buy.
More...

I had a GTC order at 2907 and it got covered.
Account - 104.5% of initial capital
 
djay said:
MGC - Short - 1512
SL : Multiple hourly closes above 1520 or price moves above 1530
Target: 1480


Basis of Trade: GC is still testing the VWAP which is at 1515. If GC crosses decisively above 1520, we mostly will see a new high, otherwise sideways to move down to below 1480.
More...

Closed this trade at 1499.
 
New Positions

MES - Short – 3002.25
SL : 3014
Target: 2992


Basis of Trade: ES moved up premarket on Brexit news. It went up till 3003 and came back. Looks like the wall above 3000 will hold. Stoploss set at 3012 which didn’t reach for quite sometime. Target is slightly above VWAP of yesterday.

What I don’t like about this trade:
a) Risk Reward is not in my favor. But seeing the tiredness in the print, I think I will get 2992.

PS: I closed this at 2993.


MGC - Short – 1499
SL : 1514
Target: 2885


Basis of Trade: Gold is not showing much strength to take it to new highs. However, it didn’t break the low of the range too. I think it will play in the range for some more time.
 
djay said:
New Positions

MES - Short – 3002.25
SL : 3014
Target: 2992


Basis of Trade: ES moved up premarket on Brexit news. It went up till 3003 and came back. Looks like the wall above 3000 will hold. Stoploss set at 3012 which didn’t reach for quite sometime. Target is slightly above VWAP of yesterday.

What I don’t like about this trade:
a) Risk Reward is not in my favor. But seeing the tiredness in the print, I think I will get 2992.

PS: I closed this at 2993.


MGC - Short – 1499
SL : 1514
Target: 2885


Basis of Trade: Gold is not showing much strength to take it to new highs. However, it didn’t break the low of the range too. I think it will play in the range for some more time.
More...

I have closed the MGC position at 1491 yesterday and added positions of MES @ 2995 and 3002 yesterday.
 
djay said:
Added more short to it @3010 .. Average Price now 3002
More...

Closed all MES at an average 2994.

Added new short MGC@1493. Will add a few more till about 1502, in case it gets there. Playing for the break of 1480.

Account: 112.3% of initial capital.
 
New Position

MES - Short - 2997
SL : Consistent 5 min Closes above 3015
Target: 2985


Basis of Trade: ES is finding resistance in the zone of 3010-3015. Chances are it can test this area in which case I will add a few more. Otherwise this is a small position which I will take out around 2985.


What I don’t like about this trade:
a) Risk reward is not in my favor. However the idea is to use this zone to build up shorts for a bigger target.


Older Position

MGC-Short- 1493.

SL : Consistent 5 min Closes above 1510
Target: 1480

Basis of Trade: Most of the volume in GC was traded above 1510 and it has given up that range. My thesis is that GC has seen the high for the year, and it may just loiter or move a bit down from 1500 zone.

upload_2019-10-23_19-46-9.png
 
Added more MES Shorts @2999, bring up the average to 2998.
Added more MGC Shorts @1497, bring up the average to 1495.15.
 
Last edited:
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