Friday Log - Trade Labor

Missed the move off the 0830 employment report by 1 point. Had my "Hot Box" trade in place with a long in area of PP/99. So waited for market to open regular hours. Put on three live trades. Two long, one short between the 01-07 areas. Identified the framework as outlined by EWS and played it nicely as I "felt" the market and had good trade ideas going into each sequence. I did not try to do too much, identified targets and scaled out of 2 of the 3 trades using profits from first 2 trades to get a little more from the third. Result: +9.75.

Thinking more and more about this combo concept and seeing how it works time and time again. Slowly building confidence in what I see and getting a bit more in touch with the intuitive side.

Next week will be a short week due to long Labor Day weekend and possible extended time off for this trader in order to see some Cubs baseball in PIT. Waiting for some friends to confirm. In the meantime, have a great weekend everyone! Next week could be a wild one as the "trade laborers" come back from vacation.

Trade Well !

Thursday Log - Watching Paint Dry

Short entry today. Tight range again today probably due to anticipation of monthly employment report tomorrow morning at @ 0800 as well as last week of summer coming to an end. Planning to see low volume tomorrow and the only significant trade opportunities should be in AM. I'm planning to start the long Labor Day weekend early tomorrow as will most other traders.

One thing good about slow days like yesterday and today is that it's an excellent opportunity for the Emini Wizard to conduct class for his membership. Very educational thoughts and observations shared and he really does teach us how to trade. Not what to trade. He's awesome and so is his system!

Took two trades today but both were scratches as I did not like the way they "felt". Listened to the "intuitive" trader and in the end, it was the correct move. Back tomorrow with a short post.

Trade Well !

Wednesday Log – The Day After Hangover

Trader Tip - Generally after a large move the previous day, look for the next day to “recover” by digesting the move and trading in a fairly tight, choppy range. This is a scalp only type day we should plan for unless proven otherwise.

Identified the overnight range and played long in live account off the bottom a couple time pre-market. Stopped out on first trade once the emotion hit after 0830 eco reports were announced. Got back in at 92’s once overnight low was taken out by a couple ticks and did not go lower. Held thru the open and scalped and scaled out. Pre-Market Result: +1.5

With another eco report due out at 1000, I was just looking for scalps with tight stops in place. Identified the PG area and worked my trades off of the pivot for 1-2 point profits and one point max stops. Once the emotion started to work its way out and new low was made (thinking stop run), I got back in long in 92’s (back to the ‘92’well again) and scaled out at 94’s 95’s and 97’s. Result: +9.5

Waited for short side trade 999-1001 area. Got in short just before 1100 in 99’s with stop above 1001 (overnight high). Still in scalp mode and scaled out in 97’s and flat once 96’s closed the trade. Result: +4.0

The market put on a nice “bender” yesterday and due to internet connection problems I was having, was unable to belly-up to the “bar”. Made up for some of it today with some good scalp trades and a good feel of market “rhythm” in AM session. Not trying to do too much and taking advantage of Mr. Market’s “morning after hangover”.

Trade Well !

Tuesday Log - Project EON

Due to my internet provider performing upgrades to the area cable system, my connection was sporadic at best during most of the morning thus no opportunity to follow the market let alone get into the rhythm of it. What a day to miss (or maybe not?). These types of days look easy in hindsight but can be very difficult in real time.

So today went to Project EON (Extenable Optical Network), I guess it's a fancy term given by my internet provider for fiber optics upgrade (FOU?). It was a good day to catch up on my reading.

Trade Well !

Monday Log – EOM

Not too much to report today as this EOM trading day comes to a close. Tried a few trades both sides with short bias. Both live and sim pretty much scratch with some pocket change collected on each. Good for a cup of coffee and pay for the comish.

Could not find a real good rhythm today as price was trapped in a ridiculously tight range all day including the primary AM move. Narrow EWS combo trades worked well for scalps if you played them.

So the end of August is here and the final week of summer for most has begun. EOM trading day was short and sweet and so is today’s post. Looking for a little more to bite on tomorrow from Mr. Market.

Reminder: Labor Day three holiday next weekend. Markets closed on Monday Sept.7.

Trade Well !

A Tribute to Woodstock & Next Week's Trading Theme for Our P&L

Tunes to trade by!

The Weekend Shmooze

As I grow and develop my trading prowess, naturally so does my blog. It is my intention to enhance the benefits of this journal so that I and others can find some meaning, organization and answers to questions that will help map our course during the trading journey. Thus, the creation of "The Weekend Shmooze".

Shmooze (also spelled shoomz) is Yiddish and defined as "to hang out with; to chat; engage in casual talk". So I find the title to this new component of the journal to be apropos in reference to what I want to accomplish...sharing odds & ends of information.

On occasion I'll add some references to this forum via posts which will supplement the many great resources I have listed near the end of this page.

I recently found some great posts within a couple of my favorite blogs that I regularly visit and wanted to share in my forum. The referenced trading blogs are ES specific and the posts I'm sharing were written by "guest" authors.

The first guest blog entry is found in the "Don Miller Trading Journal". This was written by one of his "Jellies" who, if I didn't know better could have been writing by a member within E-Nation (Emini Wizard System). I recognized many common experiences and associations this guest author describes regarding his learning experience.

The second guest post was found in "E-mini Player: Emini S&P 500 Futures Trading Journal". Previous comments I've read by author Ziad, found him to be a very astute trader who shares much wisdom and practical trading advise. In addition, I've seen "E-mini Player" and his blog develop and evolve into a worthy resource for serious ES traders to visit and add to their arsenal of learning.

The aforementioned posts will be a nice introduction to these informative blogs. I would suggest you consider adding these two blogs to your regular reading routine and believe you will definitely find many gold nuggets of useful information within these journals if you decide to visit them regularly.

Trade Well !