12th September – S&P Emini trading log

Hi All,

Well, I got home today at around 6.30pm GMT and was feeling quite refreshed after a nice nap on the tube train!

I made 4 trades today. The first trade was a short at 147300 around 6.30pm.. yep, perhaps a bit hasty.  The market looked like it was heading lower and this was the second retracement on it’s way down. I was hoping for a significant move as you usually get a decent move around 6.30 – 7pm GMT.. the trade did go down initially but found support at 147100 and then bounced up again. It did try and test this support level again but soon shot up.. I got stopped out at 147375 for -3.

My next trade was a long above 147625 which was a previous intraday retracement level. I aimed for a price just below the intraday high at 147850. This was filled.

My next entry was an entry above the intraday high and was a long at 147900. I rode it to 148075 when I saw a spiked volume (usually indicating an exhaustive push and hence a reversal). I took profit here for a total (between the two trades) of +15.

My last trade was a short after this spike. I entered at 147850 which was also a price below the previous intraday. However, I wasn’t able to hold this as I had to head out to dinner! I closed this trade with +3. However, the market made a double bottom at 147175 which would have been a nice 24 prices (actually this was a quadruple bottom as the market bounced off this level twice between 6 and 7pm GMT)!!

Nevermind, I ended up +15 today!

In the chart, you can see that I have red and green arrows.. the red indicates a short and the green indicates where I went long. I have show the first three trades but not the last one as I made the chart before I decided on the last trade!

12th September - Emini S&P Emini trading log

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Category: Emini futures, money, Trading