My virtual trades on the ES as followed, all based on price action and volume.
26 Jan 2010 (Tuesday) - Profit = $187.50
Regards,
Tony Chai
Saturday, February 6, 2010
ES Trading - 26 to 29 Jan 2010
Dear fellow traders :
My virtual trades on the ES as followed, all based on price action and volume.
26 Jan 2010 (Tuesday) - Profit = $187.50
27 Jan 2010 (Wednesday) - Loss = $300.00
28 Jan 2010 (Thursday) - Loss = $75.00
29 Jan 2010 (Friday) - Profit = $212.50
Regards,
Tony Chai
My virtual trades on the ES as followed, all based on price action and volume.
26 Jan 2010 (Tuesday) - Profit = $187.50
Regards,
Tony Chai
Thursday, February 4, 2010
ES Trading - some thoughts
Dear traders :
In my current strategy of trading the ES, I'm risking a 3 points loss for a 1.25 to 1.5 point profits per contract.
I know in the long run my return of investments would be negative as you'll realize the risk is double the profit target in the risk/profit ratio.
But I come to realize there's no fixed rules of entry and exit in trading. In other words, there's no holy grail in the world of trading where you enter in a perfect setup, target a perfect exit and eventually attain an expected, perfect profit.
Even though I set my stop loss at 3 points, I don't let my trade run to that amount of loss unnecessarily, unless it happened real fast and I know I will lose more if I didn't even set the 3 points loss in the first place. Having said that, when any of the price action and volume signals tell me that my original trade no longer works, I will get the hell out.
Though I mentioned a profit of 1.25 point per contract, this is not a fixed figure I've targeted. 1.25 point profit is a realistic figure to attain in the current ES trend. This profit target will change as the ES trend changes, and we all know it'll change. As traders, we simply have to adjust. I tend to grab more points in a reversal, where the movement tends to be strong currently. Naturally, this will also change in the future.
Another thing which is obvious but worth mentioning is to enter a trade with the highest probability setup. It may be a setup that you've learned or one which you've devise yourself. You know very well how it turns out when your impatience strays you from trading based on your setup rules. Trade strictly according to your setup, even if it means taking much less trades than necessary.
Just my 2 cents worth.
Tony Chai
In my current strategy of trading the ES, I'm risking a 3 points loss for a 1.25 to 1.5 point profits per contract.
I know in the long run my return of investments would be negative as you'll realize the risk is double the profit target in the risk/profit ratio.
But I come to realize there's no fixed rules of entry and exit in trading. In other words, there's no holy grail in the world of trading where you enter in a perfect setup, target a perfect exit and eventually attain an expected, perfect profit.
Even though I set my stop loss at 3 points, I don't let my trade run to that amount of loss unnecessarily, unless it happened real fast and I know I will lose more if I didn't even set the 3 points loss in the first place. Having said that, when any of the price action and volume signals tell me that my original trade no longer works, I will get the hell out.
Though I mentioned a profit of 1.25 point per contract, this is not a fixed figure I've targeted. 1.25 point profit is a realistic figure to attain in the current ES trend. This profit target will change as the ES trend changes, and we all know it'll change. As traders, we simply have to adjust. I tend to grab more points in a reversal, where the movement tends to be strong currently. Naturally, this will also change in the future.
Another thing which is obvious but worth mentioning is to enter a trade with the highest probability setup. It may be a setup that you've learned or one which you've devise yourself. You know very well how it turns out when your impatience strays you from trading based on your setup rules. Trade strictly according to your setup, even if it means taking much less trades than necessary.
Just my 2 cents worth.
Tony Chai
Wednesday, January 27, 2010
ES Trading - 19 to 21 Jan 2010
Dear fellow traders :
My virtual trades on the ES as followed, all based on price action and volume.
19 Jan 2010 (Tuesday) - Profit = $137.50
20 Jan 2010 (Wednesday) - Profit = $325.00
21 Jan 2010 (Thursday) - Loss = $500.00*.
* I lost $200 in the first trade. I was supposed to enter a limit order for the next trade but I clicked wrongly and it became a market order. I was stopped out within the 1st candle. A great lesson that I've learned - trade management is just as crucial as money management.
Regards,
Tony Chai
My virtual trades on the ES as followed, all based on price action and volume.
19 Jan 2010 (Tuesday) - Profit = $137.50
21 Jan 2010 (Thursday) - Loss = $500.00*.
* I lost $200 in the first trade. I was supposed to enter a limit order for the next trade but I clicked wrongly and it became a market order. I was stopped out within the 1st candle. A great lesson that I've learned - trade management is just as crucial as money management.
Regards,
Tony Chai
Thursday, January 21, 2010
ES Trading - 11 to 15 Jan 2010
Dear fellow traders :
For the past few months, I've modified my ES e-mini trading to base entry on price action and volume, with no indicators and focused only on the morning session.
Still gaining experiences from this way of trading and jotting down mistakes in a journal along the way, and yes, I use stop loss in every trade.
Here are my paper trades :
12 Jan 2010 (Tuesday) - Loss = $225.00
15 Jan 2010 (Friday) - Loss = $200.00
Regards,
Tony Chai
For the past few months, I've modified my ES e-mini trading to base entry on price action and volume, with no indicators and focused only on the morning session.
Still gaining experiences from this way of trading and jotting down mistakes in a journal along the way, and yes, I use stop loss in every trade.
Here are my paper trades :
12 Jan 2010 (Tuesday) - Loss = $225.00
13 Jan 2010 (Wednesday) - Profit = $187.50
14 Jan 2010 (Thursday) - Profit = $212.50
Tony Chai
Friday, October 30, 2009
ES Trading - 1 to 9 Oct 2009
Dear fellow traders :
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
8 Oct 2009 (Thursday) - Loss = $437.50
* Another losing day but this time I did not attempt to chase after the earlier loss.
Regards,
Tony Chai
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
Friday, September 18, 2009
ES Trading - 14 to 18 Sep 2009
Dear fellow traders :
Following are my ES e-mini simulated trades based on price action, support/resistance lines. Trading time between 9.30am and 12.00pm EST.
Once I've determined the support & resistance, I would enter with 2 contracts at staggered profit targets.
14 Sep 2009 (Monday) - Profit = $112.50
15 Sep 2009 (Tuesday)- Profit = $250.00
16 Sep 2009 (Wednesday)- Profit = $112.50
17 Sep 2009 (Thursday)- Loss = $212.50
18 Sep 2009 (Friday)- Profit = $200.00
Regards,
Tony Chai
Following are my ES e-mini simulated trades based on price action, support/resistance lines. Trading time between 9.30am and 12.00pm EST.
Once I've determined the support & resistance, I would enter with 2 contracts at staggered profit targets.
14 Sep 2009 (Monday) - Profit = $112.50
15 Sep 2009 (Tuesday)- Profit = $250.00
16 Sep 2009 (Wednesday)- Profit = $112.50
17 Sep 2009 (Thursday)- Loss = $212.50
18 Sep 2009 (Friday)- Profit = $200.00
Regards,
Tony Chai
Sunday, September 13, 2009
ES Trading - 8 to 10 Sep 2009
Dear fellow traders :
These are my S&P500 index futures e-mini simulated trades once again based on observation of price action, support/resistance lines.
8 Sep 2009 (Tuesday) - Profit = $75.00
9 Sep 2009 (Wednesday)- Profit = $100.00
10 Sep 2009 (Thursday) - Loss = $250.00
Regards,
Tony Chai
These are my S&P500 index futures e-mini simulated trades once again based on observation of price action, support/resistance lines.
8 Sep 2009 (Tuesday) - Profit = $75.00
9 Sep 2009 (Wednesday)- Profit = $100.00
10 Sep 2009 (Thursday) - Loss = $250.00
Regards,
Tony Chai
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