I made a video going over my results for the month of June and I talk about my focus for July. At the end a trade opportunity came up with the Bund so I recorded that too. It was a nice trade and I got 25 ticks which turned my negative morning into a positive one. The video is a bit lengthy but I hope you will find it useful.
June Performance Review
Please let me know if you have questions, comments, or if you just want to say that the video was helpful to you in some way. Thanks for watching.
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.
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.