Friday, August 07, 2009

ES Trading - 3 Aug & 4 Aug 2009

Dear fellow traders :

It's been a while since I post my simulated trades on ES (S&P 500 e-mini) trading.

3 Aug 2009 - Loss = $200.00

4 Aug 2009 - Loss = $200.00

You'll notice both the trades above were losing trades.

I have to admit I'm not too good with reading price action when the ES whip-sawed every other few minutes. There were occasions when a trade yield a 2-3 ticks profit but it quickly turned into losses when the intended direction lost steam after 1 to 2 consolidated candles (eg. inside bars).

Still learning in this trading process by looking at price action & keeping my stop-loss tight at max. 2 points per trade. Would also stick to trading the ES between 9.30am EST to 11.00am EST and would not hold an ES trade till announcement of significant economic reports.

Yours Truly,

Tony Chai


Invest Tool said...

it looks like sooner or later, you will find your own trading system.

Tony Chai said...

Hi :

Thanks for your kind words.

I think the losses I posted on my simulated trades are not attracting people to come to this blog :) But that's trading, you won't have winners all the time.

Meanwhile I am still sharpening my price action trading skills on the e-minis each and every day.

Not a quitter yet :)

Take care,

Tony Chai