The Battle Continues!!!

Thu, Sep 5, 2019

Total trades: 5
Total volume: 24
Closed P&L: $150.00








Futures on the main U.S. stock indexes were higher in response to news that the U.S. and China have agreed to new trade talks.
ES broke through Resistance that price has been failing at since 2 Aug 19 so according to all of the technical analysis I've learned that now becomes support.
Still waiting on this hurricane to get here..its the slowest moving hurricane yet.
I feel pretty good today compared the past few days. Got some great sleep in.
On the news front today private payrolls blew past estimates coming in at 195K vs 145K. So once again i am almost 100% convinced the media is trying to talk us into a recession.
The other important news is the ISM Non-Manufacturing/Services Composite (AUG)coming out at 1000. 

For trading today the goal is to really focus and get in as many scalps as possible. Also i want to hit a good swing off of fib resistance or support. So far the fibs have been spot on. I'll have to keep an eye on the weather too for any possible power outages.

Here are the levels Im looking at:
Ok trading for the day is done. I stopped at 325Pm EST. Overall i am happy but I want get in about twice as many scalps in during the day. Today was a smooth and somewhat predictable trading day...no trump tweets that moved the market and no odd news. So that was good. Overall the Dow shot up 373 points, the S&P gained 1.3% and the Nasdaq jumped up 1.8%. A lot of that move came last night around 930pm but we had another strong move up from 930-1000 am where I almost got suckered in. 
A lot of traders were saying that a close at or below 2972 would bring out the bears and tomorrow could be a down day...we closed at 2973 or so and dropped to 2971 as I am writing this...we will see what happens!
Some of the things i did good today:
1.stayed focused on the charts and trading for the most part of the day.
2. stayed patient and did not try and just force a trade or jump into a move
things I need to work on:
1. I was looking at the end of moves to enter a trade today..stopped myself a couple of times
2. trust those fib levels..they have been spot on
3. do more intra day charting on the different swings.
4. take a break from the charts every 45-50 mins or so and do some sort of exercise.
however I did execute a couple of picture perfect scalps today ...big improvement from the past few days..plus i ended in the green!!! 

Here are my End of day charts and trade execution charts:


Comments

Post a Comment

Popular posts from this blog

Bam!!!!!Big Money Today (for me anyway)!!!!

Image
Tue, Sep 10, 2019 Total trades: 32 Total volume: 234 Closed P&L: $812.50    830 AM       Welcome to Tuesday!!!! The fight to beat Wall Street and battle to remain consistently in the green at the end of the day continues!!!  Believe it or not but this blog made it onto  the most comprehensive list of  Top 100 Trading Blogs  on the internet  !! Thats just amazing!!! I'm blown away!!!  here's the website: https://blog.feedspot.com/ trading_blogs/ I feel great today especially compared to yesterday. I have to hit the gym later today as I had an early morning appointment at the DMV for a new drivers license.     There is not any significant market moving economic news scheduled for today. So I'll just keep an eye out for some trump tweets or world macro news while I am trading today. Right now the markets are slightly in the red so we will see what the trend will be for the day.      the trade plan remains the same today. 1-2 tick s
Read more

Wild ride today but battled back!!!!

Image
Mon, Sep 9, 2019 Total trades: 27 Total volume: 138 Closed P&L: $412.50        Well today started off terrible for me. I woke up and just felt terrible. I'm not sure if it was something i ate or what. So I skipped the gym, didn't do my pre-market work, took some pepto, and went back to bed. When I got up I felt better but decided not to trade and just get some charting in. My head was a little cloudy and one of my rules is not to trade when i don't feel good. Well I had the perfect set-up forming right off of the 61.8% retracement so i decided to jump in and make a quick scalp. Bam..lost $200 in the matter of seconds so now I have to get my money back. Next two trades go the same way and now i'm down $425 or so. I have a personal daily loss limit of $500 which is 1% of my account so i set my stop at -$75 and went to work scalping 2 and sometimes 4 contracts for 1 and 2 tick moves. keep in mind that it is 345 Pm est at this time and I w
Read more

Another green day in the battle toward $1million!!!

Image
Wed, Sep 11, 2019 Total trades: 10 Total volume: 88 Closed P&L: $550.00 Trade journal notes for Sept 11th.         On a side note outside of trading, the terrorist attacks to the US on this day in 2001 dramatically changed the life of my Family. I was in the US military and from September 2001 and on i was deployed to either Afghanistan, Iraq or sometimes Africa every calendar year from 01-2016(with the exception of 2007-8). My Family and i went through a lot, we lost some good friends, made some good friends and watched some friends and their family's fall apart due to the war. However, I retired in 2016, locked my office door and took up trading!! I haven't looked back since. Its been a hard journey with a steep learning curve but my wife has been supportive and I couldn't think of anything i would rather do than battle it out with the markets everyday!!! Sorry about all of that and onto the trading stuff: I did some quick pre-
Read more