It's been a while since I posted my ES simulated trades. Trades were based on price action, support/resistance lines. Trading time between 9.30am and 12.00pm EST.
Also, I would avoid trading the ES 10 mins. before and after the announcement of major US economic reports unless the price pattern indicates a high probable direction that I could ride on. But I would like to advise, especially new e-mini traders, to avoid trading near the economic news reporting because the price volatility is extremely high. You can find out the date and time of major economic reports announcement at :
http://biz.yahoo.com/c/e.html
Once I've determined the support & resistance, I would enter trade with 2 contracts at staggered profit targets.
1 Oct 2009 (Thursday) - Profit = $162.50
2 Oct 2009 (Friday) - Loss = $75.00
5 Oct 2009 (Monday) - Profit = $50.00
6 Oct 2009 (Tuesday) - Profit = $212.50
7 Oct 2009 (Wednesday) - Loss = $925.00
* This was a day when I encountered a $500 loss in the beginning and wanted to chase back the loss. However, I encountered another loss of $500 as I couldn't trade with a cool mind after hitting an earlier loss. A great lesson for me.
8 Oct 2009 (Thursday) - Loss = $437.50
* Another losing day but this time I did not attempt to chase after the earlier loss.
9 Oct 2009 (Friday) - Profit = $112.50
Tony Chai
