Trade 1. I went short overnight at 1105.00 (5:19). Setup: 1) Retest of the YD high, 2) 40MD, 3) it was coming from a lower low, so I expected a retracement here. Original target was 60% at 1101.50, then I moved my target to 40% at 1103.00 when I saw the straight up move.
Exit: 1106.25 (5:45), this is my stop. Mistake: I should not have sold into the long blue bar. Although my order was placed in advance, so I was not there when my order got filled, I should have monitored the position and moved my stop to breakeven after the long blue bar (or not entered at all).

Trade 1. Long at 1052.50 (10:42). Setup: 1) Big 40/60 level, 2) oversold, 3) RT/F ID low, 4) marginal low, 5) trading range feature so far. Probability: 75-80%.
Exit: 1st contract out at 1055.25, setup: 40ID. 2nd contract out at 1054.25, trailing stop, the market stopped at the 40% level.

Trade 1. It was a short at 1082.25 (11:51). Setup: 1) Breakout level, now resistance, 2) strong downtrend, 3) 62 on oscillator.
This trade turned out to be very agressive. An entry around 1081.50 would have been better: closer to 40ID and the mid uni.
Exit: 1079.50 at 12:18. Setup: reversal bar. Originally my target was 1078.25 at 60s.

Early entry and early exit!

Trade 1. Short at 1076.00 (10:30). Setup: 1) 60ID, 2) After lower lows, we expect a lower high. This trade was the first tranche, my second order was in at 1077.75, which never got filled.
Exit: 1075.50 (10:36) on a trailing stop. My target was 1072.75.

I have been impressed by Stan's overnight trades, so I decided to (try to) follow him.

Trade 1. I put in a short order at 1097.00 and 1099.00. Setup: 1) Retest of the overnight high, 2) Retest of yesterday high, 3) Proximity of 1100, which should be a big sell level.
My orders were hit (7:31 and 7:32), actually, I got the second tranche at the overnight high. Average price was 1098.00.
Exit: I had my first exit at 1095.50 (7:46), setup: 40% of the range, expecting a shallow retracement after a big move up. Second contract was out at 1094.25 (8:28). Setup: overnight breakout level. Although I left some money on the table, I am happy with the outcome of my trade!
In this trade I used OCO orders. My stop was at 1100.50. Overall, I made more than 6 points on this trade.

I am going to buy the1078 area if I get the bar pattern.

Trade 1. 10:10 I went long at 1078.75. Setup: 1) RT/F MD, 2) 5-day 40% buy retracement, 3) oversold oscillator, 4) 10:00am countertrend move. The probability of success is 85%.
Exit: 1st contract out two ticks below the ID breakout level at 1080.75 (10:20), 2nd contract out with trailing stop at 1080.50. I got nearly two points on two contracts.
A successful trade!

I had an order in overnight at 1068.25 and I missed it by just one tick.

Trade 1. 9:33 Long at 1070.00 Setup: 1) RT/F YD low, 2) divergence on the oscillator, 3) Tenet #3. Probability of profit is 70%.
Exit: It went up by four ticks then reversed. I moved my stop just below the last pivot point at 1069.00 and my stop was hit at 9:41.

Trade 2. 9:44 Long at 1068.00. Setup: 1) RT/F YD low, 2) RT/F local low, 3) oversold and divergence on the oscillator.
Exit: My stop was at 1065.50 and it was hit at 9:55. I think I did the right thing and I was unsuccessful this time. 

Two things: 1) I re-entered the same setup, however, I could have waited for another one, 2) My stop should have been moved higher, just under the previous pivot point. In this case it would have been 1066.50.

Last time I was amazed by Stan's results in overnight trading. So I though that I would try something similar.

Trade 1. I entered my orders at 1075.00 and 1077.00. Setup: 1) RT/F 9/23, 2) overbought indicators. I considered it as being a WOO. My first tranche had been triggered (6:59) and I missed the second one by one tick. My stop was set at 1078.00.
Exit: I put in my exit order at 1073.50. Setup: 1) Previous pivot low, 2) 40% of the last leg. My order was hit at 8:23.
A successful trade! However, it could have been beter if had used more contracts at each tranche, for example two, three and four. I want to stick to my money management rules and that's why I entered one plus one contract.

Trade 1. I went long at 1058.50 (10:01). Setup: 1) RT/F ID low, 2) marginal low, 3) 40MD, 4) divergence, 5) 10am morning time. The probability of this trade based on technicals is 75%.
Exit: 1st contract out at 1059.75 (10:04). Exit setup: 40ID. 2nd contract out at 1057.50 (10:07). So the position is on breakeven.
I think the entry price was a very high. The actual support level was at 1057 and the low of the bar was 1057.50. Secondly, my stop was very tight; it should have been 2 points below the low of the bar.

Well, Trade 2 should be a long at 1063.50. My order is in, setup: 1) 40ID, 2) ORBO breakout level, 3) mid uni, 4) oscillator 44, 5) strong A/D. The probability of the trade is min 75%. It would be ideal if it happened around 12:30.
Target price: 1066.25 1st contract, 2nd contract with trailing stop. Stop on the trade is 2 ponts.
I am not taking the trade because I am about to fall asleep, so unfortunately need to go to bed. I am checking the validity of this trade tomorrow morning!

Trade 1. I am long at 1051.00 (9:38). Setup: I am trying to go with the strength. I waited for a small retracement then I went long. Target: 1054.00
Exit: 1049.25, stop has been hit. My stop could have been tighter.

Unfortunately I missed a trade at 11:05. I did not go short after the long blue bar which was followed by a perfect reversal bar. The trade had an 80% probability. Actually, this is the trade of the day and I am not proud of myself.

That's it for today; I am about to fall asleep. Today I had a bad trade and a missed one with the potential of winning  four points. Next time it will be better.

Trade 1. Short at 1031.50 at 11:05.
Setup: 1) RT/F - marginal high in trading range, 2) 40% 9/30, 3) overbought on the 5-min chart and 4) overbought on the 30-min chart. Based on these indicators the probability of this trade is 75%.
Exit: 1st contract out at 1030.50 with a trailing stop (11:21). Target was 40ID and mid Uni at 1028.50. It does not look good.
11:30 OK, that's it, I am out of the 2nd contract at 1031.00. Solid 3/4 of a point on two.

Trade 1. I took my first trade at 9:01 and it was a short trade. I had an order in at 1060.75. Setup: 1) 9/28 and overnight high 2) 60% of 9/23 3) oscillator divergence.
Exit setup: 1st contract out at 1058.50; 1) in trading range, 1st contract should be out at 40% 2) after a bigger move, the first expected countertrend move is a shallow. 2nd contract was out at breakeven (9:07) since it keeps moving up.
9:12 The market seems to break out of the overnight trading range. However, there is a resistance level at 1063-4. If it's broken, the market may go up to 1075-6.
9:23 Hah, I missed looking at the economic calendar. I do it every day, however, I missed it today. Home prices push the market up and I am extremely lucky to have made some money on a trade that went against the trend. Warning sign!
Trade 2. I went short at 1063.75 at 9:42. Setup: 1) 9/24 overnight high 2) breakout level (9/23) now resistance 3) divergence on oscillator on the 5-min chart 4) divergence on the 30 min chart 5) RT/F overnight high. I want to be out before the 10am news release.
Exit: 1st contract at 1061.50 (9:48), setup: 1) 40% of the last leg, 2) breakout level, now support. 2nd out at 1062.50 (trailing stop).
10:04 Wow, that is impressive. Consumer confidence is worse than expected (53.1 versus 57) and the market plunged 10 points in three minutes. That's why I'd rather be out by 10am.
Trade 3. 11:00 Long at 1055.50. Setup: 1) RT/F ID low 2) 40% 9/25 3) Oversold indicators in a trading range 4) marginal low with outside the body inside the body bar pattern 5) Mid Uni on the 30 min chart.
Exit: 11:13 at breakeven. My first target was 1057.25, it did not get there in 13 minutes.

Today I had two winners and a breakeven trade. Not bad!

The market is in a trading range between 1036 and 1049. It opened near the top of this trading range, however it's going to be the third time up, so I won't go short here. There is a resistance zone up to 1053. If the market breaks this level, it can be a free ride to 1061-4.
9:47 Finally it has broken the 1049 level straight into the 1052-3 resistance level (40% 9/23 - 60% 9/24 + former breakout level). We'll see what happens here, no longs yet.
10:05 Breaking! I am going to try a long at a logical place.
10:35 No chance to enter, it keeps going up.
11:27 The market does not give me a break. I'll let it go up to 1061-4, then a TOD setup can lead to a good trade - if I don't fall asleep earlier.

9:41 Long at 1041.50. Entry setup: 1) RT/F MD and overnight low; 2) 40% 9/2; 3) divergence on my 30 min chart; 4) failure after a shallow retracement at a big level; 5) divergence on my 5 min chart. Probability of the trade: 75%.
Exit: 1st contract at 1044.75 at 60s of the overnight leg (9:43) since it failed from a shallow and was expected to go to 60s; 2nd contract at 1046.25 (9:49) trailing stop on the 377 tick chart. Target was 1048.00, just below a short term resistance. In total I made 4 points on 2 contracts. Good start!
Next trade should be one of these setups: 1) breakout trade, back to the breakout level (preferably down since there is a resistance zone at 1052-4); 2) RT/F at a big level at TOD/with divergence.
The market seems to settle down (11:45); I will be back on Monday.

I am back and I took an overnight trade.
9:13 Long at 1061.25. Setup: 1) breakout of 1061 level, 2) 40% of the last leg at the breakout level and we expect a shallow retracement per Tenet #1. I was hoping that it would be a trend continuation trade. It wasn't a shallow retracement and wasn't a trend continuation trade. I exited at 1060.00 with a loss of 1.25 points on 2 contracts.

First bigger buy level is at 1014-16, sell level at 1027-8, which is the retest of 9/1 and 80% of 8/28. It's been in a tight trading range since 4:30am, the bottom of this trading range is 1023.

Trade 1.

1. 9:48 Short 1022.75. Scale in entry, 1st half.
2. Entry setup: NET- 1) 40ID, 2) Tenet #1, 3) the market has retested 9/1 and overnight high (1027-28 level) 4) 1023 is the bottom of the overnight trading range and the level has been broken, so now it should be resistance. 9:56 Scale in entry.
3. I entered the second half at 1021.50.
4. Micro setup: 1. moving average colour change, 2. red bar closes below the moving average, 3. red volume dot, 4. RSI oscillator cross and it went below the overbought line.

1. 9:57 Exit at 1022.75: Shaken out on a reversal bar, however, the entry was OK. It was a retest of the low and a reversal bar turned up. It only went back to the liquid resistance. I lost on this trade.
2. 10:05 Update: Yes, the idea was good, however, the trade was very badly managed.
3. The second entry was a bit late, nearly 2 points below the pivot high.

9:00 After the employment data two levels seem to be important, at least in short term: 1000 and 1009-10. 998-1000 level is a MD 40% level and a short term support line. The market held here overnight. 1009.75 is the overnight high and the 40% of 8/27. I am to buy the 998-1000 level (NET) and sell the 1009-10 (NET) level if micro indicators (Richard's system) confirms the setup.

Trade 1. 9:54 Long at 1002.00. Entry setup: NET- 1. RT/F overnight low, 2. 40MD, 3. 10am TOD, 4. OSC 44-53. Micro setup- 1. moving average colour change, 2. bar closed above the moving average, 3. yellow paint bar, 4. a green volume dot 5. RSI cross.
9:58 Exit 1st contract at 1003.75. 1. liquid resistance, 2. Tenet #1. My target on the 2nd contract is 1006.50 ID high since 40MD should be "stronger" than the intraday trend as per Tenet #2.
9:59 Exit 2nd contract: stopped out at breakeven on the first yellow bar. If I had had my stop on the 2nd contract below the trailing stop, I would be in the trade. Possible re-entry would have been at 1003.00 on a long green paint bar (failure from a shallow which I could have survived with a bigger stop on the 2nd contract.)

Trade 2. 10:26 Short 1005.75 Entry setup: NET- 1. RT/F ID high, 2. leading divergence with a reversal bar. Micro setup- 1. moving average colour change, 2. bar closed below the moving average. However, it's a yellow paint bar only, volume dot curve turned but there is no colour change.
10:36 Exit: Richard's system does not fully confirm it and I got stopped out at 1007.75. Lost 2 points. The trade had a probability of 65%. If I had my stop from the long position under the trailing stop, I would be in. It is a nice up move. 10:41 I did not stick to my original plan: short the 1009-10 level. Trade 3. 11:04 I'm trying something now: anticipating moves based on liquid support line. I went long at 1005.75. Entry setup: NET- 1. 40ID, 2. Tenet#1, 3. oscillator is at 44. Micro indicators: 1. bar seems to be bouncing off of liquid support line (that keeps you in the trend), 2. RSI cross in the oversold area. If the next couple of bars confirm (i.e. I get a setup with moveing average colour change, green volume dots), I'll stay. My stop is very tight.
11:10 Exit: Well, it did not work, out at 1004.75 (stop)

Trade 4. 11:19 Long at 1005.25. Entry setup: NET- 1. 40ID, 2. mid uni, 3. oscillator at 44 from a jammed. Micro indicators: 1. moving average colour change, 2. yellow paint bar closes above the moving average, 3. RSI cross, 4. ADX bar on the 5-min chart. My first target is 1008.25 (previous high), then 1009.25 (2 ticks below the overnight high).
11:21 Update: It's not going to work unless I get an outside the body inside the body bar now.
11:23: Update: I got the bar, now it should go!
11:39 If I had entered on more micro indicators (green paint bar and green volume dot), my entry would have been at least 1006.00, in exchange it may be a higher probability trade.
11:42 My stop is 0.5 point below the trailing stop. Currently this is exactly my entry price, so I can't lose on this trade.
11:51 The trailing stop is creeping up, so I am going to make at least 0.25 point. 11:52 Exit 1st contract. Since it's struggling with the 1007.25 level, I exited the 1st contract at 1007.00 (usually it goes up sharply when I do that). 11:58 Told ya. 1st target has been hit. However, big numbers usually attract market, so I stick to the 2nd target at 1009.00 or trailing stop.
12:00 Exit 2nd target. Second target has been hit, I made a healthy 4 points on the 2nd contract. Exit setup: 1. overnight high, 2. 40% 8/28. I wanted to be out 2-3 ticks in front.

12:02 I expect a shallow retracement here since short term trend should work out first. If it retraces to 1007-1007.50, then back by 1pm and fails, that could be a nice short trade per Tenet#2.
12:06 Well, it's going up. I am not smiling anymore. Big resistance at 1014-5.

12:25 To sum up, I am happy with the entry of my first trade, however, it was badly managed. The other entries were very early, not confirmed by micro indicators. I particularly regret taking the 10:26 short trade because it's a setup I often lost money on. I should trust the trailing stop more since it keeps me in the trend. I could have caught both big moves today just by having my stop below it.

Learning from my previous trades I think that I have been very impatient with my entries. So I have decided to follow the liquid support/resistance line and I’ll take trades in the direction of this indicator.

Trade 1. 9:36 I took my first trade, it’s a long at 1037.50. Indicators used: 1) bar closes above the moving average; 2) paint bar is green; 3) moving average colour change; 4) volume dot became green

9:37 Out at 1036.25. (-1.25) Actually there is a sensational outside the body inside the body short bar on the 5-minute chart with divergence but I missed it since I was long.

9:42 Now if I get a short signal, I’ll enter. Target area is 1029-30.

9:45 So far it’s been a 6.5-point move and red bars. I could not enter yet. RSI is stuck to the bottom and it does not support the short entry.

Trade 2. 9:49 OK, I waited for a colour change in the moving average and a red bar that closes under it. Short at 1032.25.

9:50 Of course, I got it at the bottom, out at 1033.75 on a green bar closing above the moving average.   (–1.5) Wrong trade, RSI did not support it.

Trade3. 9:53 Long 1034.25. Setup: 1) bar closes above the moving average; 2) paint bar is green; 3) moving average colour change; 4) volume dot became green; 5) RSI went above the oversold line.

9:56 Out at 1032.50. What can I say? (–1.75)

Trade 4. 10:06 Another short at 1030. Indicators: 1) bar closes below the moving average; 2) paint bar is red; 3) moving average colour change; 4) volume dot became red; 5) RSI went below the overbought line.

10:07 Out at 1031. Apparently I am doing something wrong. (–1)

Trade 5. 10:14 Another short at 1031.25. Indicators: 1) bar closes below the moving average; 2) paint bar is red; 3) moving average colour change; 4) volume dot became red.

10:16 Out at 1032.75 (–1.5)

10:31 That’s all for today. Next time I might be better.

New week, new adventures. I watched the video again last weekend and I also analysed my charts. I hope it will get better this week! 9:36 Market is moving in a 5-point overnight trading range. 1032.50 is the overnight high, however, it would be the 3rd time up so I will not automatically sell it. Bigger resistance at 1036-44. 9:41 Based on the system, it’s a sell here around 1031.00 but I don’t take it since it’s the 3rd time up. However, if I get a buy signal, I’ll go long, expecting a breakout. 9:46 I went long at 1032.00, expecting a breakout. My target is 1035.50. I got a yellow bar closing above the moving average followed by a green bar, then a volume bar turning green. This move is after a shallow retracement after the 3rd time up support ing by an A/D 3-1. 9:48 No, I got stopped out at 1030. (–2) 10:04 So far it’s a 4-point trading range with flat tops and higher bottoms. If I get a buy signal near the top, I’ll go long again. 10:09 I got the buy signal but by the time I entered my order, the market jumped up 1 point. What can I say? Let’s track this „theoretical” trade. 10:27 It’s creeping up. 10:36 I went short at 1032.75, 1.5 points below the top. The setup is the same (moving average colour change, bars closing below it, RSI cross + went below the overbought line) but now I was waiting for a red volume bar to turn up. There is a 60% level up at 1036. Trailing stop kicked in. I am trying to push it to 60ID+40MD+mid uni at 1030.50. I won’t lose much because the trailing stop is sharply going down. 10:43 As Richard said an ADX bar appeared on the 5-min chart, however, it’s white. It could indicate a trend change. 10:45 It came back from the liquid support, so I moved my stop to breakeven and it has been hit. (0) The market only went to 40ID. 10:47 I went long at 1032.75. I got gren paint bars and green volume bars and RSI cross at the oversold area. This setup occured after the market hit 40ID on a strong up day. Richard is talking about a lower high. It’s not good for me. 10:51 Oops, I ignored the ADX bar on the 5-min chart. That may signal a possible trend change. 10:55 I am going to get stopped out at breakeven in any second. I have projected a T2 at 1038.50. 11:02 Well, so far it’s been OK. The trailing stop has kicked in and the market is retesting 1034.25. My stop is still at breakeven and I hope that it’s drifting higher. 11:06 My target is 1035.25 on this trade. It has hit 1035.00. 11:10 It’s coming back. Unbelievable. 11:13 I moved my target to 1035.00 expecting a retest of the high. 11:23 I got stopped out at 1033.25. (+0.5). I have got to do it somehow else. Now I have given back nearly 2 points so that I can stay with the trend. When I enter badly, the trailing stop is appr. 2 points below my entry, so I have a 2-point loss. When I follow the trailing stop aftern a successful entry AND I follow the trailing stop, I give back my profit. However, if I exit on the first yellow paint bar, I miss the big move. So what’s now?? 12:02 Well, it is the move of the day – 4 points, without me. Never mind, I got 0.5 point out of 3.25! 12:15 I should have thought that the market may stop at the 60% level and retrace deep. So I could have exited on the first yello paint bar (1034.25) and have gone short on the first red one (1033.50). That could have been at least 2.5 points. 12:22 So far I made 1.5 points loss today. It’s getting better. I am more patient and don’t jump into trades when I can see a signal. However, incorporating this system with NET still remains a challenge. 12:35 That’s all for today, I hope that I can make some points on Friday!

9:33 Short at 1013.75. The market is at a MD high and a yellow bar closed below the moving average, which changed colour. Volume confirms with a red dot and the trailing stop kicks in. RSI confirmed, however, it’s trending up.  My stop is 1015; target is 40% of the overnight run.
9:38 So far, it’s nothing. Liquid support – unfortunately – holds, moving average keeps changing colours. A/D 5-1, it’s not good.
9:41 Reversed at 1014.25, lost 0.5 point on shorts. Yellow bar closed above the moving average and a green paint bar confirmed. Liquid support line still holds. ( –1)
9:43 Now there are two green dots on volume. Stan and Richard say that I should not trade. 9:45 Now it’s guessing. I should wait for confirmation. I thought that I would stay with the trend but it’s sideways now.
9:48 Red ADX bar, something is going to happen.
9:50 Short at 1012.75 on a red paint bar. Liquid support became resistance and it seems to be confirmed by red volume dots. So far I lost 2 points. (– 3)
9:55 Green and red crosses at the same time. I really should not be in. 9:56 Out at 1014.00. Although I have seen the video, I have no idea what to do and what setups to trade. The setups I decided to follow do not work at all. (–2.5)
10:01 Well, it was a long trade, nice and big.
10:02 Short at 1017.50 now. The setup the same; I’m keep trying. The moving average has changed colour, the volume curve turned.
10:03 Out at 1019.25 and reversed. Not much success so far. (–3.5)
10:04 I am not going to lose on this because my stop is now at breakeven. I have a fantastic sense of going short at the low and going long at the high. I should do exactly the opposite what I think of and I could make lots of money!
10:06 Out of half on a yellow bar at 1021.25. (+2)
10:14 I am still in with the second. However, I ask of myself the following question: I don’t know which direction the big move is in. After a confirmation on the short side, why I did not notice the long setup? They are all the same for me. I should learn to make a difference between them. Maybe then strong A/D could have been an indication. 10:17 Trailing stop is now at 1023.
10:17 Got out at 1024 on a yellow bar. Now I am trying to re-enter if I see the setup (bar closes above the moving average, its colour changes to cyan). (+3.75)
10:25 Richard has just answered my question at 10:14.
10:35 Long at 1022.50 on the colour change of the moving average, price closes above the moving average, I have a green bar and volume curve is turning up. I hope that trailing sop kicks in soon and volume dots turn green to confirm my trade! A/D 6-1, ticks over 1200, should work…
10:39 Got the confirmation. Target is 1024.75.
10:44 Got out half of it at 1023.25 on a yellow bar. I don’t want to lose on it, so I moved my stop to breakeven. (+0.75)
10:46 Stopped out at breakeven. A fantastic ¾ of a point again!
11:01 Long at 1022. Long green paint bar closes above the cyan moving average and a green volume dot confirms. RSI goes above the oversold line.
11:02 Trailing stop kicks in, confirming the setup. Let’s see if it can retest the high at 1024.75.
11:13 Out at 1022 on a yellow paint bar and purple moving average. (0) I am still down 3.5 points today. However, it’s much better than last week when I was down 25 points plus commission.
11:28 Long 1023. It may break out of this narrow channel; the liquid resistance line seems to be taken out after a higher low.
11:33 I doubt that it is going to work. I missed the big move in the morning and now I’m bothering with 0.5-point trades. It’s pathetic.
11:35 Breaking: I’m up 0.5 point again and moved stop to 1022. I am following the trailing dots since it’s not moving much.
11:39 I reversed at 1022.50 on a long yellow bar that closes below the moving average. (–1). 11:41 Now it’s going up. This is how to make a losing trade from a winning trade. People, do exactly the opposite what I am doing and I guarantee that you are going to make money. Out 1023.50. (–2)
11:46 In the last hour I unsuccessfully tried to trade a 3-point trading range.
11:56 Short at 1023.25. Yellow bar closed below the moving average that is purple now. The volume curve turned down and we have an oscillator cross as well. Target 1021.00
12:01 Confirmation: red paint bar. I could have entered at 1023.00 and it would have been a higher probability trade. While I am typing this post, we get a red volume dot and an oscillator confirmation.
12:11 Both liquid resistance and support are present. I should avoid trading. But I am already in. Dilemma: I don’t know whether it’s going to continue down after a signal or becomes choppy since I am unable to predict it... So how can I avoid getting into this trap? I enter on a signal then it’s just staying between the support and resistance lines. I have been in the trade for 20 minutes and it’s not going anywhere. I moved my stop to breakeven; I don’t want to lose money on this trade.
12:19 Out of half at 1022.50. It’s going back above the moving average. (+0.75)
12:20 I got the answer: I should not trade this narrow range at all. I should have started to read something at 10:30.
12:25 I am not suffering any more: got stopped out on the second at breakeven.
12:26 That’s all for today. I lost 5.75 points and it’s much better than last time. Next try on Monday.