Click on Chart for comments on the ES market trade.Total on Trade was $3,800.00. This market right now is smoking hot. With that being said, I will not be trading tomorrow on Options Expiration day, and also it is Friday. This was another very good week.
It is still absolutely amazing how far the market is going back and forth on extreme wild swings. Remember to "Trade What You SEE, NOT What You THINK!"
This trade was one that I entered on a series of 3 contracts today at 903.50. The trade setup was a BREAKOUT out of a TRADING RANGE. I took 2 contracts off at my first target which was 8 points from my entry at 911.50 for $400 for each contract or $800 for 2 contracts.
At the end of that entry bar, I went in LONG once again on 2 with a LIMIT ORDER at 911.50, and I still had my original contract back at 903.50 going for me. My next target was once again 8 points from the entry of 911.50 to 919.50 for another $800 as once again I took off the 2 contracts.
At this point in time, I did not add to my trade any more, as I was sitting on $1600 worth of gains, and 1 contract running. The target I choose was based on the ADR, in this case the UPPER Daily Range of 950.50. I placed it 3 points under that target at 947.50, and this last contract was taken out of the market at target before my 4PM Deadline.
The last contract earned $2,200 plus the $1,600 from before for a total of $3,800.00 on this trade. My protective stop movement went from 919.50, to 921.50, to 937.50 on the last bar to protect unrealized profits.
All in all, a very nice trending trade.
Good Trades,
David AKA Tiger
No comments:
Post a Comment