6/21/11 Trade results: 7 trades, $210 profit

We had 7 trades for $210 total profit on the day.

Our goal for the future is to identify in what market conditions we should be position trading and in what conditions we should be scalping. We consider a profit target of 10 ticks or less (usually 5 ticks) a scalp, even though most traders would consider this a more medium term target.

We had the position trades last night, and today when we reached the screens, the market had a tremendous rally, which we did not capitalize on. We did however analyze and interpret price correctly for the time that we were trading. We took a $10 loss on a trade since we saw conditions change in the market. Aside from that loss, we has an 85.71% profit ratio, 7 trades, 6 winning, 1 losing.

I will post my first tutorial on risk / stop management later today.

Here is the chart of the trades performed during regular trading hours.

6/21/11 Trade results: 7 trades, $210 profit

We had 7 trades for $210 total profit on the day.

Our goal for the future is to identify in what market conditions we should be position trading and in what conditions we should be scalping. We consider a profit target of 10 ticks or less (usually 5 ticks) a scalp, even though most traders would consider this a more medium term target.

We had the position trades last night, and today when we reached the screens, the market had a tremendous rally, which we did not capitalize on. We did however analyze and interpret price correctly for the time that we were trading. We took a $10 loss on a trade since we saw conditions change in the market. Aside from that loss, we has an 85.71% profit ratio, 7 trades, 6 winning, 1 losing.

I will post my first tutorial on risk / stop management later today.

Here is the chart of the trades performed during regular trading hours.

6/20/11 Afterhours trade results: 3 trades, $115 Profit

We had 2 trade signals in AH. I exited the second trade and re-entered with the 3rd because for some reason my stop and target were not placed once I got filled; must have been a mistake in the ATM on my end. I did take a $5 profit on trade 2 and re-entered one tick better than my original entry for that position.

We met our target of $50 on the second setup, and protected ourselves with a stop below the swing at $30.

$115 Profit in AH, going to bed now, goodnight and good luck trading tomorrow!

Here is the chart:

6/20/11 Afterhours trade results: 3 trades, $115 Profit

We had 2 trade signals in AH. I exited the second trade and re-entered with the 3rd because for some reason my stop and target were not placed once I got filled; must have been a mistake in the ATM on my end. I did take a $5 profit on trade 2 and re-entered one tick better than my original entry for that position.

We met our target of $50 on the second setup, and protected ourselves with a stop below the swing at $30.

$115 Profit in AH, going to bed now, goodnight and good luck trading tomorrow!

Here is the chart:

6/19/11 Afterhours trades: Signals explained, $135 profit so far

We had 4 signals so far since 6 PM EST. I would like to explain each signal and discuss what we did and why we did it.

1) Short 2184.25: 2183.25 had massive support from buyers and sellers were not able to breach that level. We moved our stop to the invalidation point which was 2184.00. We got 1 tick of slippage an were stopped out at entry on this, resulting in $0 on the trade.

2) Long 2184.00: We saw the massive support in the market / initial wave of buyers come in. We got stopped out on trade 1 and entered long due to the support from buyers and pressure to the upside. Our stop was placed at 2183.00. We took profit at 2187.75 once we saw buying pressure fade / sellers resisting price. Since we had a long bias and were expecting a pullback rather than a reversal, we disregarded the short signal. Profit of $75

3) Long 2187.50: We bought the pullback once we received a long signal, stop placed below the swing low. We realized the market was somewhat choppy / ranging so we decided to take a profit on this trade of 2 ticks and then re-enter with our stop placed at the same invalidation point of 2187.00, see below. Profit of $10.

4) Long 2187.50: We re-entered the long direction as mentioned above. Our situation now is completely risk-free since we secured the 2 ticks and are now risking 2 ticks. We exited when buying pressure seemed to fizzle out. Profit of $50.

Entering on the signals given, we have a profit of $135 so far.

6/19/11 Afterhours trades: Signals explained, $135 profit so far

We had 4 signals so far since 6 PM EST. I would like to explain each signal and discuss what we did and why we did it.

1) Short 2184.25: 2183.25 had massive support from buyers and sellers were not able to breach that level. We moved our stop to the invalidation point which was 2184.00. We got 1 tick of slippage an were stopped out at entry on this, resulting in $0 on the trade.

2) Long 2184.00: We saw the massive support in the market / initial wave of buyers come in. We got stopped out on trade 1 and entered long due to the support from buyers and pressure to the upside. Our stop was placed at 2183.00. We took profit at 2187.75 once we saw buying pressure fade / sellers resisting price. Since we had a long bias and were expecting a pullback rather than a reversal, we disregarded the short signal. Profit of $75

3) Long 2187.50: We bought the pullback once we received a long signal, stop placed below the swing low. We realized the market was somewhat choppy / ranging so we decided to take a profit on this trade of 2 ticks and then re-enter with our stop placed at the same invalidation point of 2187.00, see below. Profit of $10.

4) Long 2187.50: We re-entered the long direction as mentioned above. Our situation now is completely risk-free since we secured the 2 ticks and are now risking 2 ticks. We exited when buying pressure seemed to fizzle out. Profit of $50.

Entering on the signals given, we have a profit of $135 so far.

6/7/11 Trade Results: 12 trades, $580 Profit

Final exams are over with, so all focus is back on trading. Today, we had 12 trades for $580 profit.

I will begin posting thoughts, ideas, and trade results regularly again.

6/7/11 Trade Results: 12 trades, $580 Profit

Final exams are over with, so all focus is back on trading. Today, we had 12 trades for $580 profit.

I will begin posting thoughts, ideas, and trade results regularly again.

5/25/11 Trade results: 17 trades, $505 Profit

Attempting to implement our goal mentioned in yesterday's post, we tried to fill our reasonably set targets, around 10 ticks or so max, patiently wait for our entry signal, and not hesitate on entering a position when a good quality signal presented itself. If during a position, conditions change, we exit immediately no matter if its for a profit or loss.

We realized that it's very difficult to get a home run trade every time because market conditions are constantly changing. Also, we NEVER want to have a winning trade turn into a losing trade; that its very poor trading. Therefore, we find it comfortable for our trading style to be highly active during the day, having around 20 trade or so, and securing smaller profits; which can potentially add up to a large total by the end of the trading session.

We had approximately 9 trades during last night and the open this morning, and 8 trades during the regular session. Those trades were placed from a different computer than the one I traded the regular session with. For some reason, my entries and exits transferred over weird in NT on my chart, as you can see below. If anyone wants, I can post the AH trades from last night when I get home.

5/25/11 Trade results: 17 trades, $505 Profit

Attempting to implement our goal mentioned in yesterday's post, we tried to fill our reasonably set targets, around 10 ticks or so max, patiently wait for our entry signal, and not hesitate on entering a position when a good quality signal presented itself. If during a position, conditions change, we exit immediately no matter if its for a profit or loss.

We realized that it's very difficult to get a home run trade every time because market conditions are constantly changing. Also, we NEVER want to have a winning trade turn into a losing trade; that its very poor trading. Therefore, we find it comfortable for our trading style to be highly active during the day, having around 20 trade or so, and securing smaller profits; which can potentially add up to a large total by the end of the trading session.

We had approximately 9 trades during last night and the open this morning, and 8 trades during the regular session. Those trades were placed from a different computer than the one I traded the regular session with. For some reason, my entries and exits transferred over weird in NT on my chart, as you can see below. If anyone wants, I can post the AH trades from last night when I get home.

5/24/11 Trade results: 21 trade, $415 Profit

We had 21 trades today, resulting in a profit of $415. The goal of today was to attempt to correct the issue of us giving money back on some trades, hoping to make more on the position; essentially trying to control our emotion of greed. We calculated that more trades, entering on good signals, securing profit when we have it and re-entering when applicable, if the most profitable route for us.

Today, when we saw a long position was say 8 ticks in the money, and we see that buying pressure is drying up, we take the profit; not wait for our target of 12 ticks to be reached.

When conditions change while you are in a trade, act accordingly, trade intelligently.

5/24/11 Trade results: 21 trade, $415 Profit

We had 21 trades today, resulting in a profit of $415. The goal of today was to attempt to correct the issue of us giving money back on some trades, hoping to make more on the position; essentially trying to control our emotion of greed. We calculated that more trades, entering on good signals, securing profit when we have it and re-entering when applicable, if the most profitable route for us.

Today, when we saw a long position was say 8 ticks in the money, and we see that buying pressure is drying up, we take the profit; not wait for our target of 12 ticks to be reached.

When conditions change while you are in a trade, act accordingly, trade intelligently.

5/20/11 Trade results: $155 Profit, 7 trades

We had $155 profit today having 7 trades, taking 2 stops. We were very happy with the stops that we took, because we stuck to the system, took the loss, and reevaluated the market; giving us ability to reenter when conditions called for it.

Here is the chart detailing the entries and exits.

5/20/11 Trade results: $155 Profit, 7 trades

We had $155 profit today having 7 trades, taking 2 stops. We were very happy with the stops that we took, because we stuck to the system, took the loss, and reevaluated the market; giving us ability to reenter when conditions called for it.

Here is the chart detailing the entries and exits.

5/18 and 5/19 Trade results: $135 and $150 Profit

Wednesday and Thursday we had $135 and $150 profit, respectively. We had more trades than we would normally like on Wednesday, 21 trades. We had plenty of $5 profit stops, and seemed to be entering the market in environments that we should have not been trading.

5/18 and 5/19 Trade results: $135 and $150 Profit

Wednesday and Thursday we had $135 and $150 profit, respectively. We had more trades than we would normally like on Wednesday, 21 trades. We had plenty of $5 profit stops, and seemed to be entering the market in environments that we should have not been trading.

5/13/11 Trade Results: $90 Profit

We had 3 trades, resulting in a profit of $90. I will discuss our entry / profit securitization process in the next post.

Briefly though, we secure 5 ticks on our first two trades. If the $50 mark is reached, we then attempt to fill an 8 tick target. Following a successful fill of the 8 tick target, we trade for 10 ticks. On Friday, we go our first two $25 targets filled, giving us the ability to move to 8 ticks and then got the 8 tick target filled. We did not see any trade signals following that, therefore we halted trading with a $90 profit.

Here is the chart of the 3rd trade:

5/13/11 Trade Results: $90 Profit

We had 3 trades, resulting in a profit of $90. I will discuss our entry / profit securitization process in the next post.

Briefly though, we secure 5 ticks on our first two trades. If the $50 mark is reached, we then attempt to fill an 8 tick target. Following a successful fill of the 8 tick target, we trade for 10 ticks. On Friday, we go our first two $25 targets filled, giving us the ability to move to 8 ticks and then got the 8 tick target filled. We did not see any trade signals following that, therefore we halted trading with a $90 profit.

Here is the chart of the 3rd trade:

5/17/11 Trade results: $290 Profit

Took 8 trades today. We had 1 stop, as shown on the chart and 7 profitable trades. Ended the day with $290 Profit.

Also, I will have Friday's results and charts posted later on tonight. Following that, I will have a post explaining our process of managing entries.

5/17/11 Trade results: $290 Profit

Took 8 trades today. We had 1 stop, as shown on the chart and 7 profitable trades. Ended the day with $290 Profit.

Also, I will have Friday's results and charts posted later on tonight. Following that, I will have a post explaining our process of managing entries.