End of day review 3-18-11 Friday

We had an OAOR opening type and ES just chopped for a little bit after that. We continued to rotate. Bias was to the up side today and i was looking for opps to buy. The day was a balanced day with a downside bias so it was hard to find areas to buy at. Over all we mostly just chopped around.

Over all emotionally a rough week . I'm still struggling with consistency. Im realizing that if im ever gonna going to be a consistently profitable trader i have to make some changes. If i don't then i have no one to blame as to why im not making any money trading. Some important things i realized this week is that i need to have a set of rules that applies to me and my trading. I had rules but i never really made them mine. So i have a copy of them and i keep them by me and read them all the time so i don't forget tem and i need to get to the point where i can recite them by heart . Till next week ...

Oh i took 2 trades today see trades chart for details.

End of Day Review 2-16-11 Wednesday

Today is a carbon copy of yesterday. I was tied up with work and got to my seat late again and rushed to find something to trade... Big mistake and i promise myself i will not do it again. The market balanced all day and we are still in this big daily wedge. The ranges are getting tighter and a break out is very likely. So more than likely i will not be trading this week till we get out of this area. I had 3 losers today and hit my daily stop  so i was done for the day. Im a little pissed off with myself but i have no one to blame but me. Im not happy with the way the market grinds higher on the daily chart but hey it is what it is for now. Maybe when uncle Ben is done with the POMO shit the markets will turn back to normal again or at least some volatility will come back.

End of day review 1-26-11 Wednesday

End of day review 1-26-11 Wednesday

So today was a good day with ES opening and trying to go lower then bouncing up into the highs of the balance area. This is where i got short and traded back down into 50% retrace level which ended up being a good target (see trades chart). Then we had FOMC announcement at 2:15PM and the market was dead leading up to that. So i waited till after the release to put on another trade but couldn't find anything to trade other than selling the top and i dint want to sell their due to the bullish context.

1st Trade: Took a short at the resistance zone which is the top of the balance area 1295-1268. I was expecting responsive sellers to be active up there due to the FOMC announcement at 2:15PM. Responsive sellers did step in and push ES down into a retrace level where i exited for 3 points. Felt good with this trade and was confident holding it for second target. I was patient and waited for the market to tell me when to get short. Most heat i took was 2 ticks.