Jun 282011
 

I think it was unanimous that everyone was expecting ES to trend up so I was wanting to buy pullbacks.

So after the open I waited for the first pullback to the VWAP.  I scaled into this one as usual and got 5.0 pts on my second contract.  My decision to exit turned out to be about 1 pt too early but after that ES turned down and is still below my exit as I’m writing this so I think my decision to exit was good.  I don’t have specific reasons for my exit, I just was seeing higher prices attracting more sellers and buyers looked to be weaker across all markets.

ES pulled back near the VWAP (but not quite) and I got long again.  I was hoping to add the second half at VWAP but it never made it.  A sign of strength.  After an hour, I had to go so I took 2.25 pts on that one.

I’m very close to being able to increase my size.  I actually did increase it last week and didn’t keep to my stops and ended up with a big loss.  So I need to prove to myself that I can keep my losses small before I add size.  Soon I hope, possibly beginning of July.

 

 

Trade 1

Trade 2

 

Jun 272011
 

The feedback on Friday’s real time trade videos was positive so I recorded a couple trades today.  In the first I waited for a pullback on ES due to the strong move up.  It didn’t pull back enough for me but I did take the same trade on the Euro (which pulled back more).

The second video has the second trade which I took on both ES & Euro.  I got over 6 pts on the ES trade.  The video is extremely long but I think it’s interesting.  The entry is important and the exit are important, and many would think those are the only thing important but I find what happens in between the entry & exit is very important too.  For example I took my first scale early, I guess it was justified I don’t know (let me know what you think).  Then on the second I was very tempted to take my profit and to be honest if I hadn’t been making the video I might have cut my winner short!   But I was patient and got my target which ended up being to the tick at the high of the morning.

I share these videos so that others may learn something from them and also so that I can get feedback and learn from others.  So please share your questions & comments.    If the feedback is positive I will do more real time videos in the future.

I also want to thank FlowTraderES for sharing his thoughts while trading as they were very helpful to me.  I highly recommend following him on Twitter if you trade ES.

I hope your trading went well today.

 

 

Jun 272011
 

Last Friday I turned on Camtasia and recorded some thoughts while trading.  I first went over my earlier trades and reflected back on a loosing week.  I then explained what I was looking for and when I saw it I took 2 trades.  I show the footprint a little too.  I didn’t have my screen set up for recording and I didn’t want to rearrange my desktop, which is quite difficult to do because I use two 24″ monitors, so I just included my main trading chart and my DOM.

The videos are quite long, about 40 minutes total.  I intended to edit it and reduce it down into a smaller video but I just didn’t have time and if I wait any longer it won’t be current.  So here it is.  The good trade is at the end of part 3.