Monday 08.03.2010 - Daily recap

- after we opened above VAH, trading right in R=1140.00 and being rejected, ES made a small IB=2.50 points, (IB=1140.50-1137.00)

- I was expecting a brake of IBL by more than 1 point, the move down find a quick S=1136.00 and traded for the whole day in a 4.50 points range developing a slow and boring trading day

- after trading above VAH, probing the O/H, finding a quick R, not testing the VAL, setting this very small IB, failure to brake the IB, failure to fill the singles, lack of catalyst, I knew this is one of those days when the only one happy is the broker

Ideal trades:

- S 1139.75 fail to test IBH with exit 1137.25 IBL

- L 1137.25 IBL exit 1139.25 fail to test IBH

- S 1139.25 fail to test IBH exit 1136.00 LOD, S

- L 1136.25 S exit 1140.00 R

My trades:

- S 1138.75 exit 1140.00 P/L -1.25 / no patience, too early in the trade, expecting a move down to POC, which never happened

- S 1139.50 exit 1138.00 P/L +1.50 / entry fail to test IBH, exit after fail to take out IBL

- L 1136.25 exit 1137.25 P/L +1.00 / entry at S exit based on order flow

- after these trades and based on slow action I chose to stay aside; not too much to say about this type of day

Net P/L: +1.25