Monthly Archives: July 2015

Trading For Freedom..Took Profits and Ran by 10:30 AM

I was up early as usual starting the trading room at 7:30 am EST and the markets started to move in the pre-market. I took a few trades in the pre-market session and some after the open at 9:30am EST. By 10:30am I had made a few dollars and was done for the day. Off to be with family, friends, the beach or wherever I want to be. Trading gives me the freedom to have more time for things that matter and what I WANT to do and not what I HAVE to do (and the potential to grow my account size). Happy Trading!

A Nice Come Back – Swinging

Coming Back After Being Down

I got shaken out a little early in the trading day as it will often happen to us traders that is trading small contracts (as of now I am trading 1 or 2 contracts at a time). As the day went on I waited for the setups to happen. There was a big dump I didn’t catch so I waited for the pullbacks, the continuation down and worked my way back into the green with some profits. Watch the live trading session to see how I did it.

Making Up Losses

Making up losses

First let me say that I was trading AH (After Hours). I usually don’t trade these hours because of light volume which can cause gaps and spikes or no movement at all. I saw a setup where the ES was below 2100 and I thought what a good short it would be if it dumped, after all 2100 is a big psychological number- go long over 2100 and go short under 2100 is my mindset. Makes sense but it didn’t work out that way and I was stopped out by a spike that rallied 4 points or $200 (it could also have dropped 4 points in my favor). So today I was in the markets making up the losses instead of making fresh profits today.

Targets Too Far To Get Hit

Targets Not Getting Hit

Today seems like my targets was too far and the price was not making any pops. For a trend trader this would have been a good setup but for a momo trader like me, most of the time I like to be right or right out (notice I didn’t say all of the time).  If  I am up a point and half to two points in the green, I will more times than not take a +1 tick break even trade and not let the trade turn into a losing trade.

The Trend Is Your Friend

The trend is your friend is  true in trading. You will find that there is major and minor trends on smaller time frames within major and minor trends within higher time frames. Today showed me that the smaller time frames was not in control (1, 5 and 15 min). The market ran up overnight due to Greece and the IMF coming to an agreement over Greece debt. In this type of environment it was hard psychologically to go long on such an extended rally and so the brain thought short short short but the market gave little room for downside and alot of room to get stopped out. Happy Trading