ES Trading - 28 Apr 09

Dear fellow traders :

Shorted the ES based on the S&P500 10 min. stochastic trending down gradually. But I was stubborn not to close the trade when the S&P500 10 min. stochastic started trending up. Stopped out at 12 points loss.



I really need to train up my discipline not to enter any trade when the S&P500 10 min. stochastic signal was not clear. And I have to admit I wasn't focused. I was monitoring my options position and wasn't looking at the big green candles forming in the ES when I was SHORTING it. I could have reverse my trade or I could have stop out my trade. But nevertheless it was a great lesson not to multitask too much when I'm trading.



Regards,

Tony Chai

ES Trading - 23 Apr 2009

Dear fellow traders :



Another day where I have to recover earlier losses. Entered a long initially when I saw the S&P500 10 min. stochastic slowly trending up. But the ES red candles formed long & furious and from my experiences it's likely to go down deeper, since the pivot point support was also broken. Reversed the trade and recovered the earlier losses as ES plunged deeper.

I entered another trade later to short the ES since I felt the ES might plunge through the pivot point support again since it had done the "strength" to do it earlier. But I closed the trade a little too soon with a -1.50 points loss when I saw the ES holding on the pivot point support. I also felt uncomfortable shorting the ES when the S&P500 10 min. stochastic was trending upwards.

As you can see, the pivot point support was truly broken again, and I was already out of the position, urghh.


Regards,

Tony Chai

Sensational Susan Boyle

Dear friends,

I guess most of you have heard about her, enjoy.

http://www.youtube.com/watch?v=9lp0IWv8QZY

Don't give up on your dream.

Regards,

Tony Chai

ES Trading - 16 Apr 2009

Dear fellow traders :

Just recovered from a bad flu. I could hardly stand up straight for more than 5 mins. during the worst days of my flu. Now that I've recovered, I'm back to practice my ES trading.

Shorted the ES when the S&P500 10 min. stochastic was trending downwards. The position whip-sawed a while but once I saw ES touched the base of a probable double bottom & that I already had the 2.50 points profit ($125) in hand, I closed the ES trade.



Regards,

Tony Chai

ES Trading - 9 Apr 2009

Dear fellow e-minis traders :

Followed the S&P500 10 min. stochastic signal and shorted the ES. The stochastic kept trending down but the ES just won't plunge. Well, the ES was strong. The S&P500 was well supported above the R3 (!!!) pivot point during that time-frame & day. I decided to close the trade at zero gain (& loss) when I saw the 10 min. stochastic started turning up. You might have ask, why didn't I long the ES since it won't buckle when the stochastic was trending down. That was my answer. The S&P 500 10 min. stochastic was trending down; and I felt not to trade against that trend.




As frequently encountered, the ES did dip afterward for a while AFTER I've closed my ES trade.


Regards,

Tony Chai

Beautiful Imperfections

Dear friends,

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