Total gross profits: $25.00 +0.50 ES points
Total trades: 2 [1 scratch]
Execution score: 100.00%
Opportunity cost: $0.00
This was one of those days where if you weren't prepared to get on board
one of the ES's "big" moves, one in the morning and one in the
afternoon, I could have easily fallen asleep, or would have been
susceptible to being chopped to bits trying to squeeze water out of
Today, the high of the day was 1367.25 and @RenaTrader had a Diamond Setups short call at 1367.50, which means getting a fill for the HOD
trade was missed by just 1 to 2 ticks. And if you were awake
earlier at 4:00 AM Eastern time, his "Asia & London Levels" would
have gotten you long on the move down to 1360.50. I missed both of
There were a couple trades where I did get some fills, and both went
at least +1.50 to +2.00 (without a fill), so by following my trade
management rules, they ended up getting stopped out at b/e or with a +2
tick profit. However, both of the trades ended up going +2.00 and
beyond after I was out.
And after I missed those +2.00 target opportunities, I admit, I felt
the ego get bruised slightly. So I started to look even harder for
setups. Probably too hard.
Not a good idea for a day with hours of a relatively tight, range
bound price action. Although I would have made +2.00 on at least two
additional trades where I actually placed a live order (but just a few
seconds too late to get a fill), it just wasn't worth the mental capital
drain, in hindsight. There are better days to trade, and it's worth
waiting for them.
On the bright side, even with all the conflicts and angst in my mind
of trying to find decent setups, while even bending some rules slightly
so that I can justify them against my trading plan (yellow flag!), the
orders that I did place ended up being good calls. So maybe my subconscious is learning something after all.
But the bottom line is that I didn't overtrade, and most importantly, I followed my plans and executed against my plan 100%.