Late Post

This is a late post since I found some issues with on of my new filter indicators, the Mini ADV. I believe I have my indicator fixed now and I wanted to point out what the CAT indicator showed for Friday.

Friday the 22nd of June, 2007 ES Futures

I found it interesting that the NYSE Tick was very weak Friday. This weakness showed in my CAT indicator as it just kept driving lower all morning. Notice in the following 1-minute chart how the purple line for the CAT stayed much closer to it's down trend line than did either the ES price or Mini ADV indicator.

At the low of the day, all the values were back around their respective trend line drawn off of the lows mad early in the morning.

How Did it Go

I'm still taking too many trades "late" in the move. If I pass on a signal or just miss a trade opportunity I have a really bad tendency to just enter a trade "hoping" the move keeps going. First of all - there is the "Hope" word using to describe my trading. I must get the "Hope" out of my trading. These are not "signalled trades" but I'm having a hard time eliminating this trade for some reason.

Need to Keep Score

50% cost me 1 - 2 points
25% scratched out at break even (still cost commission)
25% profited 1 or more Ticks with one (only one) profiting 1 point

Need I say this put a big dent in profits for the day.

If I entered a counter trend scalp trade and traded the opposite direction of these trades, I think every one of these would have held an initial 1 point stop and hit a 1 point target. I'm not planning on trying this, but I can show this over and over again, but still have troubles not taking this trade. This will change.

Trade Wise, Trade Well
John