oldcat's daily Es trade, criticize welcomed.

oldcat

4/23
Trade 1: 7:56 long 1570.5 sell 1572.5 +2
Trade 2: 11:35 short 1570 covert 1571.25 -1.25
+0.75

Review:
Trade 1: but at support on uptrend, ok
Trade 2: sell at resistance 1571, but the trend may changed because of previous bar, the high frame trend is still up.
It seem pull back at mid day in a trend usually buy opportunity.
Also should buy at 1571 support after it break up and hold.

Will take break tomorrow.

oldcat

4/25
Trade 1: 6:37 long 1578 6:41 sell 1580.25 + 2.25
Trade 2: 8:25 long 1584.75 sell 1584.75 0
+2.25

Review:
Trade 1: buy at support in uptrend , sell at target , ok
Trade 2: buy at support but can not scalp out, exit at break even. ok
Missed the big trend from 1577-1585, need to think about what is good entry here.

oldcat

4/26
trade 1: 7:13 long 1576.25 7:49 sell 1577.25  +1
trade 2: 8:48 long 1574 9:01  sell 1574    0
+1

Review:
range day
trade 1 buy at support, have change to scalp out at 1.75p, should take the chance and not expect big profit in range day.
trade 2: all most get the day low but run out of time so exit at break even.

For the week: -2 p

Accomplished this week:
simplified trading plan:
buy at support in up trend and sell at resistance in down trend.
using high time frame chart and trend strength to judge if current trend can reverse.

working on : better execution, when to use market, stop, limit order, when to chase and when to wait.
stop and target.

补充内容 (2013-4-29 12:45 AM):
May 01        08:15                 USD                                  ADP Nonfarm Employment Change                           150K                  158K                 
        10:00                 USD                                  ISM Manufacturing Index                           51.0                  51.3                 
        14:00                 USD                                  Interest Rate Decision                           0.25%                  ...

西安

April 26, 2013 review

oldcat

Next week news may impact trading:
May 01        08:15                                                   ADP Nonfarm Employment Change                                  
        10:00                                                   ISM Manufacturing Index                          
        14:00                                                   Interest Rate Decision                                  
        14:00                                                   FOMC Statement                                                              
May 02        08:30                                                   Trade Balance                                            
        08:30                                                   Initial Jobless Claims                                  
May 03        08:30                                                   Nonfarm Payrolls                          
        08:30                                                   Unemployment Rate                                            

oldcat

6/36
8:08 long 1586  8:35 sell 1587    +1

Review:
missed the opportunity to long around 6:50 , having problem pull the trig, need to work on it.
Trade 1: long pull back in uptrend, scalp out since my session is about to run out even know the possibility of break out high is better than break down.

oldcat

4/30
Trade 1: 6:47 long 1586 6:54 sell 1584    -2
Trade 2: 8:03 long 1586.5 8:23 sell 1587 0.5
Trade 3: 8:27 long 1587.5 8:36 1589 1.5
0

Review
Trade 1: range reversal long, but the previous red bar is large, which may indicate this will be 2 leg down.

Trade 2: pull back in up trend, but worry about no movement for 20 m and exit will small profit.

Trade 3: enter again as the range is moving up, exit a little early at first resistance to get the lose back.

Lesson : remember strong movement usually have 2 legs.

hahaa

xiaomimi

西安

西安

oldcat

5/1
Trade 1: 7:42 short 1586 cover 7:57 1587.25 -1.25
Trade 2: 8:32  long 1587 sell 8:34 1588 +1
Trade 3: 8:36 long 1587 sell 8:39 1586 -1

Review:
Trade 1: short at resistance in down trend for at least retest, the promise is fine but no entry on 5m chart, I was put a limit order there and did not watch while get filled , should wait for entry.
The resistance area is large (1586-1589) it is better to short at  least in middle so my 2 points stop won't get take out. I exit after see the bull bar without wait for my stop at 1588 got hit which is good decision.

Trade 2 and Trade 3: getting bored and try to trade the tightly range. unimportant.
Today play at the right side but more patience is needed.

西安

oldcat

5/2
(1) 8:37 long 1591 8:51 sell 1593   +2
(2) 9:33 long 1591 10:22 sell 1592.75  +1.75
+3.75

Review:
(1) pullback long in strong up trend, entry , exit ok
(2) 2 leg pull back long in up trend, entery ok, exit have more upside but run out of trading time.

Missed the big up bar , overnight gap did not fill and previous uptrend should give clue to the upside break out but failed to pull the trig, need to work on it.

oldcat

5/3
(1) 8:13 long 1613.5 sell 8:29 1611.5 -2

Review:
missed the rally in the morning , getting inpatient and anticipate another break out. Was have a limit order at 1612 but moved it up, otherwise should be able to scalp out at break even.

For the week : +1.5
First week turn to positive , hope this can last longer.

What I did well for the week:
have good discipline, and always exit with small lose.
Followed trend , never try to pick top and bottom.

What I did poorly for the week:
Have problem pull the trigger and see the trend run away from me.
Not patient enough to wait for good setup.

oldcat

May 09        08:30                                           Initial Jobless Claims                                  
May 10        09:30                                           Fed Chairman Bernanke Speaks                                                              

oldcat

5/6
(1) 8:12 long 1610.75 8:31 sell 1610.75 0
0

Review:
enter at support in range/slight up day, but shaken out by the retest. Could enter again at 8:40 but getting later for my trade session

oldcat

5/7
(1) 7:06 long 1617  7:14 sell 1614.5 -2.5
-2.5

Review:
buy at support but in uptrend, but caught by some news driven event and stopped out.
Realized that I have been trading without clear defined entry setup, signal bar ..., need to add to my trading plan.
I also want to try set stop and target and without active manage to trade to simplify trading decision making process.

oldcat

5/8
(1) 7:12 long 1523.25 7:35 sell 1525.25 +2
+2

Review:
break out pull back long
There is another long opportunity just after this and I did not take , was looking for 2 leg pull back but the previous up was quiet strong so 1 leg pull back should be ok

oldcat

5/9
(1) 7:15 long 1626.5  7:20 sell 1624.75  -1.75
(2) 7:27 long 1624.25 7:43 sell 1626.25 +2
(3) 8:33 long 1627.25 8:35 sell 1626.25 -1
-0.75

Review:
1: range reversal ,should wait for signal bar on 5m chart trig before long. rule : on enter at 2000 tick chart if at support, otherwise wait for 5m trig then use 2000 tick chart trade
2. range reversal,
3. break out pull back , but the break out is not confirmed. rule: wait at least 2p , or follow through bar before enter break out pull back.