ES (Futures) - Day #2 Consecutive

Today I practice traded the ESU8 real time again, but not as long.

From about 10:15 am MST to about 1 pm MST, here are the following trades on 1 contract:

1. Profit: 1227 - 1231.50; UP (+4.5 points)
2. Profit: 1232 - 1234; UP (+2 points)
3. Profit: 1234 - 1230; DOWN (+4 points)
4. Profit: 1231 - 1231.50; UP (+0.5 points)
5. Profit: 1231.50 - 1234; UP (+2.5 points)
6. Profit: 1233 - 1231; DOWN (+2 points)
7. Profit: 1231 - 1232; UP (+1 points)
8. Cost: 1232 - 1231.5; UP (-0.5 points)
9. Profit: 1232 - 1234; UP (+2 point)
10. Profit: 1233.75 - 1231; DOWN (+2.75 points)
11. Profit: 1231.75 - 1231.75; UP (0 point)
12. Profit: 1231 - 1229.75; DOWN (+1.25 points)
13. Cost: 1229 - 1229.5; DOWN (-0.5 point)
14. Cost: 1229.50 - 1228; UP (-1.5 points)
15. Profit: 1228.5 - 1229; UP (+0.5 points)
16. Profit: 1229 - 1227.50; DOWN (+1.5 points)
17. Profit: 1227.75 - 1228.75; UP (+1 points)
18. Profit: 1229 - 1227.75; DOWN (+1.25 point)
19. Profit: 1228.50 - 1233; UP (+4.5 points)
20. Profit: 1233.50 - 1232; DOWN (+1.5 points)
21. Profit: 1234 - 1233.25; DOWN (+0.75 point)
22. Profit: 1234 - 1238; UP (+4 points)
23. Profit: 1237.75 - 1233; DOWN (+4.75 points)
24. Cost: 1233 - 1234.50; DOWN (-1.5 points)
25. Cost: 1234.50 - 1232; UP (-2.5 points)

26. Profit: 1231.50 - 1229; DOWN (+2.5 points)
27. Profit: 1229.50 - 1228.50; DOWN (+1 point)


1 point = $50 (ES)
1 tick = $12.50 (ES)
4 ticks = 1 point (ES)

Here I have 39.25 points (or 157 ticks) = $1962.50.

It costs me $500/contract margin on the ES at my broker.

Commissions for 27 trades = $3.99 x 27 = $107.73

Net profit = $1962.50 - 107.73 = $1854.77

Amount used at risk = $500 for 1 contract.

$1854.77/$500 = 371% ROI for 2.75 hrs of trading

I believe in the first day I strictly traded my strategy, I used the 3 min. chart. Forgot if that was the case or not.

Today, the first hour of my trading or so, I used the 3 and 5 min. charts. But the last 1.75 hrs I used a 1 min. chart. Somehow last Monday, using the 3 min. seemed to flow better for me, but though I was still taking profits, today I seemed to be able to use the 1 min. better for some reason.

Today I did not trade my plan as well, however, if you look at the returns for nearly the same amount of time, they are similar. My execution was better on Day #1 than today. There were times I got in/out either a little too early or too late. There was more fumbling around than on Day #1 of execution of putting my trades in the trading ladder.

I was also inconsistent at putting my cost stops in which could be detrimental. Something happened at 12:22 pm EST and thankfully I had a stop cost in there otherwise it would've been really bad for me. And, I did not exactly do all my due diligence to see what economics news or if anyone of any importance was speaking.

Will have to go back to see if there was any news around this time period that caused the markets to go a bit nuts. I took bigger costs, however, I was also rewarded for not doing my due diligence completely. So, here is a case where I actually profitted on probably a half dozen or more trades when I really should not have.

Some of the movements today were bigger near the end which allowed me to bring my account up, however, it also dropped due to a couple costs. So, today I feel humbled by being rewarded for mistakes. These will go in my trading strategy.

I still had the inclination to not get out of trades and switch directions, but most of the time did execute as I should. Hopefully Day #3 will be better as I continue to iron out different things.

So, today the saving grace was that though I did not have my stop costs in place 100% of the time, the times when I really needed it, they were there and stopped me out as the positions went really against me and I wasn't quick enough to get out manually, so that auto stop was really good.

Let this be a lesson learned for all of us. Have your stops in place so that if something really goes against you REALLY quickly, you get stopped out without thinking about. Better to incur a smaller cost than a huge, huge cost.

Hopefully tomorrow I can do Day #3.
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