ES Trading - 8 Mar 2009

Dear fellow trades :

Longed the ES based on the indicator's signal. The position went against me and in order to cut down the loss incurred, I reversed the trade to a short position when the indicators have also started to point downwards. Damage of the day -$187.50 paper loss (3.75 points).



Regards,

Tony Chai

ES Trading - 6 Apr 2009

Dear fellow traders :

Shorted the ES based on the S&P500 10 min. stochastic trending downwards.


But the position turned against me quickly for about -5 points. The 10 min. stochastic was still trending downwards thus my plan was to cut loss to lesser damage. Managed to got out with a -0.50 points loss. Realized I could have profited if I hung on a bit longer since the ES did plunge later (circled in red).


But I was not going to fight the trend when I was planning to cut loss initially. Overall damage -$37.50 (0.75 point).

Regards,

Tony Chai

ES Trading - 3 Apr 2009

Dear fellow traders :

Another day where I applied what I've been taught by Michael, learned from past experiences & stopped trading for the day while I was still ahead.




Regards,

Tony Chai

ES Trading - 2 April 09

Dear fellow traders :

Not very different from how I've traded recently. I've long the ES in the 1st 2 trades based on the trending up of the S&P500 10 min. stochastic.

I shorted the ES in the 3rd trade was based on a probable double top formation.

Netted 4.50 points ($225) profit & decided to call it a day.



Regards,

Tony Chai

ES Trading - 1 Apr 2009

Dear fellow traders :

These few days my Ninja Trader (NT) was not able to access the streaming data from IB. Had to open & close NT a few times to establish the connection. The streaming data turned out fine in IB but the data just couldn't load in my NT.

On Tuesday, this was a blessings in disguise because I could have loss more if I've entered my trade too early on that day. But on yesterday, since I could only successfully load the data onto NT around 10.15am EST, I've missed a big chunk of the move by then. Nevertheless, I still long the ES since the S&P500 10 min. stochastic is still trending upwards. I've realized the S&P500 hit some resistance at the R1 pivot point. That gave me the signal to get out when that level was touched twice. Netted a paper profit of 2.75 points.




Regards,

Tony Chai