Flag trading the trend

The pb got up 23 locked in 15

wild

123 long at 47 +15 pb +1

Here is a pic of my current ES trade: +55 ticks at the moment, my profit target is currently 1922, and my stop loss is 1912.50, with a 1902 entry.

Looks good, right?



Once this trade is finished, I will post about how I let a bias cause me to deviate from my plan, and the screw ups and damage caused thereby.

Awesome trade I am fighting with my lady today I want to go to movies she wants to play video games

and cant decide which video game

Stopped out at 1920.75 for +18.85 points. My target was 1922, which was a tick under the overnight Globex high. Once it traded to 1921.75, one tick below my target, I moved my stop to 1 point below that 21.75 high. I do this because my targets are S/R levels, and the market does not always reach those levels. My net profit for the day is not 18.75 points, however. My net is only 8.25 points, because I had a -3, a breakeven, a -3, and a -4 before I hit this one for +18.75

On the plus side, this shows the money making power of trading when you keep your losses small and your profits large.

However, I really fudged up my trading plan, and what should have been my best day of the week turns out to be my poorest. What can I say - like most traders, I am my own worst enemy.

Here are all my trades today:

A 10 minute chart:



And a 610 tick chart to x-ray the price action:



The first trade was fine: My plan is to buy/short the first sign of direction after the opening flurry. Today, the first indication was up. The trade was +5 at one point. Given the price action, I should have (and I recognized this is real time) moved my initial 3 point stop loss to a breakeven stop and reverse to short. I did not. I instead wanted to "stand by my plan" and not get stopped out of a trade "just to watch it go to profit without me." I've been doing this long enough to know when I should stop and reverse. I let the general outline of my plan get the better of my real time observations of the particulars of what Douglas would call "the now moment opportunity zone" and I not only took a 3 point loss instead of a two tick profit, but I missed the short entry at 1903 with a target to 1995.

Now, I did get short. Unfortunately, I did not get short until 1899.75. Now, here is the thing: The target should not have changed. Price traded to 1995, and I should have taken my 4.75 point profit, but instead, I moved my stop to breakeven and decided to hold for a 10 point target. Stupid! Especially because not only was 1995 a profit target per plan for a short trade, it was also, conversely, a support area at which I was to look for signs of a long reversal entry. I ended up getting stopped out of that short at breakeven, and missed the chance to enter long at or very close to 1895.

Then I fudged things up even more by re-shorting (my bearish bias had started to make itself felt) when I should have been looking to get long on the pullback. Then, I moved my fixed -3 point stop to a -4 point stop "to give the trade room." Yikes!

Fortunately, I did snap out of it just before my stop was hit, and I realized that I should be long. My stop was hit and I hit the buy at market button, and the second trade was managed properly - albeit with an entry 7 points higher than it should have been.

So, there you go. A trading plan is only as good as our willingness and discipline to stick to it.

can we get late short

123 short 95 +15 pb put me in hole 13 got up 16 took +10

Well I'm done for the day. That 21.75 turned out to be a double top level for now.

Sometimes ES fights me, but usually when I have a not so good day, it is my own fault. I am happy to finish $400+/contract to the good today, but I am disappointed that I did not trust my eyes and my plan, and instead gave in to my thoughts, i.e. my ego.

But the goal is make enough $$ to live well and to help others with enough time to enjoy life and help others. And that goal is what keeps me honest to myself most of the time.

123 short 44 no pb +15

yep got this one ..first day live for me ended with +15

after that 44 short, the pb didnt come to the entry--but did form a new 123, so would you take a 123 short off the new low(here it was around 25)?

2b short 08 for +30

whew!!! just shorted 123 at 06 last trade of day it got to 15 and never looked back +30

bunch of trades give me 5 minutes to post them

Way to go!

ok a bunch of trades today had 4 +1s 6 +15 wins 1 +10 win 1 +30 win and 1 -15 loss total net ticks 119. today was not easy at all I just put them on

DD because ES trades in quarters and each one would be considered a tick instead of points could you relate them as ticks so a 10 point win is 40 ticks. its tough for this old mind to wrap around points when I see only ticks

wow 3 more setups in the 1130 to 12 area theres another 45 that could have been gotten. Though you have to know when to lay down the mouse