Daily Score: N/A

Batting Average: 59.26%
Full Stop %: 14.80%
EpT: N/A
 
 
Quick post for today as I’m late for dinner. I made the above trades today via the Ninja Trader Simulator as I’m trying out a little system change and need to test it a little bit before I go live. I only made 1 live trade for today netting .45 R-Units. Sorry I didn’t have time to review the trades today, the change I’m trying to intitiate involves tracking multiple Accumulated Volume totals on the different Index contracts (NQ, ES, ER2) and I failed to make a note which ones I entered for what reason today. I’ll post more on the subject next week as I am excited about the change (taught to my by my friend Bill over at ViperSpeedTrader.com) and think it will ultimately improve my scalping results drastically.

For those of you with TradeStation, you can read a little bit about the scalping system I’m trying Here in this TradeStation Support Thread.

This is one of the trades I took today as both a scalp & a trend play. After selling off all morning, there were 2 beautiful setups here. I took the first one.

If you read my poste yesterday on Wolfe Waves, this is a great example of what to look for. Market was declining, then the 5 points mapped out. I shorted at 732.30 at Point #5 as a Wolfe Wave fade and since the trend was a little exhausted I let 1/2 of my position go as a 2t scalp and kept the other half to see if it could reach the Wolfe Wave target (Not drawn here, but imagine a line drawn from point # 1 through 4…extends down to around 731. 2o)

Then at 10:35 another beautiful TRIX Dvrgnce, Dbl $TICK Hook-, & Trendline Break- setup occured…all at the same time! This was a powerful convergence of factors pointing to a lower market. And if I had stayed in, then it indeed would have easily made it to the Wolfe Wave target (And much more). But for some reason I got scared and exited at 731.60. Think my nerves got the best of me on this one, or maybe there was an ACV long signal that scared me out, but either way it was a mistake to leave without any strong evidence to contradict the short signal(s).

Just as a reminder, I got a little bit of a family reunion going on this weekend and will be off tomorrow. So have a nice weekend everyone!