Today's Trading


These are the trades I've made in the past 2 days. The green shaded areas are for profits I've taken and the timeframe on this 15 min. chart. And, this is basically the work, markings on my charts as I trade that I make.

The reason I really wanted to display this was because I have not been trading at the beginning of market hours and can you see how much stuff I'm missing. Of course, this is my time with my children in getting them ready for school and also a part of it is my time with God.

What this is telling me is that I need to continue to make sure that I get to bed early enough so I can get up early enough to have my alone time with God, get my stuff prepared, get the kids' things prepared and maybe get in some trading time before my kids get up a little before 7 am.



I traded off the 1-min. chart for 2 of the trades (the last one and one of the other ones).
TRADE 1:
- ENTRY @ 996.25
- Target 998.75 (50% retracement of the highs & lows for the day, and near 200 EMA)
- Cost stop @ 991 (below the low of today)
- RSI in uptrend on 3 min. chart
- Broke above 50 EMA
- Bullish volume slowly increasing
- MACD bullishness weak, but still bullish
- EXIT @ 997.50 (I was cautiously moving my limit order up the ladder, but price action moved quicker than I could move and I got taken out prematurely; I did not want to have the stop moved to my target, just in case it came close and did not make it and then I would have to wait a long time again to take profits, if the market will let me)


Notes: I had some interim trendlines drawn on price action, which it broke down below both. My stop was pretty far back and I was sort of sweating bullets as I saw how far it went against me. When I originally set the stop, it was to give things room to move. It looked like the market was wanting to push up, but it wasn't super strong and I knew I was in that territory of possibly getting taken out or head-faked.

This trade was started during lunch time, which often, I don't really like to trade during when traders are out to lunch back east. But, I didn't want to miss an opportunity of a move up, as I felt the market wanted to get back to the 1000 area and close possibly above this today, as it had yesterday.

MORE Notes: I sensed that I needed to leg into another position at 994.75, just before things looked more bullish, but I decided that I wasn't going to go through emotional turmoil of having 2 contracts go against me if I was wrong and quicker. It would take me longer to make profits with using just one contract, but that was the way I was going to do things.

Apparently listening to my gut would've been more beneficial, but it's alright. I took profits 6 times today and am happy. I did not meet my goal of $300 net today either, but I'm still happy to make a profit and a little better than yesterday. I still have later this evening to trade, too, so if I made another 1.5 pts, I will have met my goal for today.

TRADE 2:- Just wanted to get in for a quick bearish trade, which I figured would be small and it was.

TRADE 3:
- ENTRY: 997.25
- Target: 998.50
- RSI downtrend broken on 3 min.
- Price action downtrend line broken
- Cost stop @ 995.25 (this is just 1 tick below some short-term highs during the day)
- EXIT: 997.50

Notes: I thought it would go back to test the 200 EMA rather quickly. I was wrong. It was a bit tortuous to sit through "almost" stuff. I figured since it didn't seem to want to go past 997.75, that maybe I was wrong about the market wanting to head back up and thus, resigned myself to a small profit and was happy when I finally got taken out. I had been moving my profit stop all over. Frustrating, because a few minutes later, it broke out.

I was given clues that though it was butting its head against a "resistance", the lows were getting higher. Of course, this isn't a sure thing. Anyway, I still took profits.

TRADES 4 & 5:
- These were just occuring as things were moving up.
- On trade 4, I wasn't sure how far up it would go and kept moving my limit stop up, but the market was moving too fast and I got prematurely taken out. This led me to get back in quickly for trade 5. Saw that in trade 5, on the 1 min., it was way in overbought territory, so set a closeby stop & got taken out at the highs there before it pulled back.

TRADE 6:
- ENTRY: 1001.50
- I waited for the pullback and it looked like it was bouncing off the 10 EMA, which it was on the 1 min..
- RSI on 1 min. started uptrend
- More bullish volume strength than bearish
- MACD was weakening in bullish, though.
- Target was 1004
- Cost stop @ 999.75 (a few ticks below the very short-term lows)

Notes: It was a bit agonizing to sit through the next 30 min. that I was in the trade. I sensed the market really wanted to go to 1004. This was the high for most of the day yesterday and where it broke out of near the close of yesterday. Last night, it got to a high of 1004.75 after hours and today around the open, it was at 1004.25. I just figured this really looked like an area that the market was testing.

And, the other part, which is a bit phoo phoo is that as I looked at the pattern from a 15-min. view, condensing the screen, the rhythm seemed right. Gut, intuition??? I really don't know.

Good guess? It reached 1003.75. Close.

Needless to say, I noticed the lows were getting higher and I just thought it would attempt this, but did not know for sure, just wanted to be ready in case of a break out. I head the limit order close, but a little further out. Once again, it ran a bit quicker and I sort of fumbled at moving the stop up the ladder. Got taken out @ 1003.25, two ticks from the top, which I'm totally fine with.

Within a few minutes later, price action headed back down below 1000 and I was happy to have made 7 ticks & profitable, out of my trade.

Today I made $262.50 - $23.94 = $238.56 during regular market hours.

I have a lot more packing to do today, kids to attend to, and just the normal stuff.
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