I was not really active during the months of june and july due to some personal vacation… The total profit count since I began this site ran up from 82.5 ES points around the end of May (and a -.50pt loss on oil) to 88.25 ES points at this moment. I will not hesitate to say to all of you and myself that I could have done better if I had made some better calls, especially in this last runup.

But when looking back, the market always looks easy to read, and in the end I still have profits so I shouldn’t complain too much. Let’s see what this last trade will bring to me and all of you who dare to stand in front of the storm of fake optimism.

My breakeven point at 912.00 has been reached, now it will come down to holding the shorts and letting the profit run. Remember that we are still in a bearmarket on the daily charts, with a nice double top around 1500.00 points on the weekly chart (2000 & 2007). With all the housing, banking, unemployment troubles out there I still believe we can go down back to the lows of the year.

We saw a good bearmarketrally, now get ready for the retrace. Good luck trading today!

Welcome to a new blog dedicated to people who want to trade the ES future, with success. I will give updates on how I trade the ES future with detailed analasys from time to time and give an update on how the account performed over time. I will start with a 15.000 € budget, people with less money can also follow the trades, however with less than 5.000 € I would not advise you to start trading futures.

Some basic rules I urge you to consider & respect:

• The first and most important rule in trading futures: plan your trade, and trade your plan. Before entering any position, think about how much you are willing to lose if the trade goes bad, and at what point you want to take profits. When you entered the trade, don’t change your plan, stick to the target and the stoploss. Keep in mind that only 10% of the traders out there make money trading, because the other 90% either enter a trade without a plan, or make a plan but don’t stick to it.
• Another important rule: Cut your losses and let your profits run! If you plan to swing a trade make sure to always put a hard stop so the loss is minimized to what you think is acceptable, for when the trade goes bad. If however the trade goes in the direction you wanted it to go you should consider using a trailing stop once you have reached the level you eyed. For daytrades I would suggest to use fixed stops and targets rather than letting the profit run, due to the fact that it is a DAYtrade… Keep in mind that the best traders out there are so good simply because they are able to cut their losses and exit a losing trading without feeling any emotion or bias on the next trade!
• Keep in mind not to trade futures when the amount of cash on your account does not allow you to have some margin for error. If you only have 3.000 € on your account and make some mistakes in a row, you will end up by not having enough margin left to continue to trade. On the other hand, if you have 15.000 € on your account and you begin trading multiple contracts at a time, the same thing could happen to you. Always keep in mind that some breathing room allows you to trade better, or so is my experience.
• Never trade when you are feeling exhausted, when you are drunk, when you are angry or sad, … Only trade when your mind is capable of trading without emotions interrupting your trade. Make sure you cannot be disturbed or distracted when you are in a trade, and if you are distracted or called out and do not feel comfortable to hold on to the trade, to close it!
• If you lose more than 5% of your money on one day, stop trading and go out to take a breather. Most traders will want to win it all back the same day and you could end up doing silly things! There’s always tomorrow, the market does not run away. Keep in mind that being out of the market is a position as well.

I will post more updates when we start trading, I wish you good profit today!