Wednesday, April 1, 2009

Wednesday Goes...

Made one mistake today and it cost me a measly -2 ticks in the ES rather than a measly +2 ticks of profit. Not a big deal, but I did make a mistake thinking I had gotten into an invalid setup, exited my position, realized it was valid and it would've made two ticks. Not huge, but a mistake nonetheless.

The only other "mistake" that wasn't really a mistake was on an NQ setup that went to a temporary target I have the option of taking profit at. I didn't take profit because I didn't want to pre-stage the order and cap potential profit, it hit the level, rejected, I put in my order and never got filled and got stopped out for a tick. Not a mistake, more like bad luck, but it sucked either way.

Other than that, I didn't get any big trades today, not a lot of action (price was REALLY momentum based today) but I got what I got. I didn't screw up too badly. Basically a wash day with a whole +2.50 in net profits! ;)

The last thing to note is that i'm getting ready to roll out my last setup (of my three) to complete my method. I've been simming it for a couple weeks now and watching it and it seems to be working really well. It hits my required 80% win rates, is easy to watch for, enter, manage, and it gets profits i'm otherwise unable to capture. For example today it had 5 trades, 5 winners, and roughly +300.00 in profits between the ES and the NQ. I'd discount it if it wasn't so solid performing on multiple timeframes, markets, and historically. And if you're wondering what it is, i'm not going to tell you, but i'll give you a hint. Michael - your latest experiment bares shocking resemblance to the idea i'm going after. So keep at your testing because with some simple filters it can be very powerful!

So all good things happening here. Cheers!

Trade Results:

ES: +12.50
NQ: -10.00

1 comment:

Michael said...

So... you've been holding out on us, secretly testing something new.

I'm looking forward to seeing it!!