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 Archived July 2004 Key Trades

Charts below reflect profit targets (PT's) based on Japanese Candlestick s/r levels. Profit targets suggest where the trader should have exited.

However, the trader's actual exit that's posted below in the commentary will not always be exact to the profit target (PT's) due to real trading conditions.

Simply, no matter how well the destination (exits) are mapped out...

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Key trades of the month that's posted below represents trades by either NihabaAshi or trades by another user of the strategies by

    No presentation is being made that other traders will or is likely to achieve profits similar to the trades shown below via becoming a member of #FuturesTrades realtime trade posting room.

These highlighted trades are not based on points. They are based on a trader's ability to recognize a repetitive price pattern and exploit the trade management of the price pattern...initial stops, trailing stops, profit targets and any contingency plans (re-entry signals).

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July 12th Monday 2004

Click on chart to see full size

Chart by QCharts

The move into the new house and all the stuff involved afterwards is very demanding...doesn't allow much time for trading.

Therefore, the goal for the month was to complete the month with a minimum of 75 points and to have at least one trade that captured at least 75% of a big trend.

This particular trade had nothing interesting in the form of any customized Japanese Candlestick patterns...although there was a low probability traditional Tweezer Top.

Yet, there was a strong bearish price divergence signal...strong enough for a trade position.

Short Entry @ 1111.75

Lots of supply and not enough demand

With that said...there was a minor WRB support level @ 1111.00 that had me a little worried.

In fact, ES bounced of that 1111.00 and traded up to 1113.25 where it ran out of steam along with signaling another bearish price divergence.

That 2nd bearish price divergence pushed price down hard...hard enough to form a WRB on the 3min chart interval.

Profit target 1 was reached (not easily)...covering some contracts @ 1111.00

However, I should have covered @ 1110.50 or 1111.00 while the interval was a WRB below the support level of the prior WRB.

 Profit target 2 was reached easily...covering some more contracts @ 1108.75

Profit target 3 was reached...covering a contract @ 1107.00

Profit target 4 was reached but I failed to cover my remainders (got greedy) @ 1106.25 and ended up dumping them when ES attempted to fill in that Hidden GAP...covered the remainders @ 1109.75

Simply, via poor trade management on those remainders...I left (failed to exploit) 3.50 ES points on each contract on the table along with staying in the trade too long (more stress) after knowing I didn't execute the trading plan properly.

Trade Signal Source: Trading Manual

ES closed the trading day @ 1113.50

Overall Trade Performance:

Realtime    Realtime1    Realtime2

Archived Past Key Trades

  Remember this...there are successful traders in #FuturesTrades consistently making good profits each week in either ES, ER2, YM, NQ, SPY, QQQ, DIA and Eurex DAX.

Many of these traders are either making a living in the markets via trading full time and others are just supplementing their incomes via trading part time.

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The Strategy Lab

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