Bund trading was ok. I mean I did well with 14 ticks but I could have done a lot better. I got out early once and I missed a great trade.
I had one of my best daytrading days on ES in a long time, and the best expectancy ever: 1.19 pts/contract/trade which includes pre-market where I scalped and even scratched one. The reason is because I got a great short from 34 and got 4 pts on it.
The “super trade” was not in my trading plan. It was a discretionary setup based on the P formation & the gap. I calculated the risk was 2 pts and the target was 8 pts so that’s a 1:4 ratio and I couldn’t pass it up. I took this one on IB so that I wouldn’t be tempted to mess with it on the DOM.
I took one off quickly when it looked like it was going to reverse and then I reminded myself that I was going for 8 pts so I put it back on. Took the scale again later and then was very patient. Thanks to FuturesTrader71 for his excellent commentary while I was short. I didn’t copy his trades but his observations were very helpful to me especially in helping me be patient and give it a chance to run. I ended up closing it when ES made a double bottom and couldn’t seem to drop below 28.
This is where the hypotheses come into play. I’ve been doing the same hypotheses which basically is just the setups in my trading plan (fading unfair highs & lows and go with trend moves on a pullback). I need to be a lot more specific and come up with really good Risk:Reward setups such as this. That is my focus in the days ahead.
Today was a great day so I plan to take off this evening and spend it with the wife.