Futures Roundup

Stayed on the sidelines for the most part this afternoon. Long signals were triggered with that 11:20 5-minute bar on both ER2 and YM. I had stayed away from the market since my initial trade at 6:35ish. The push was fairly strong during that 11:20 bar, so I went with the signal. But as could be predicted, it all fizzled out. I exited the ER2 trade with -8 ticks and the YM with -16 ticks. Signal soon reversed as could have been expected. Why expected? Well, to begin with we did not break 100 tick range on the YM all day up to that point, and my momentum indicators were reversing soon after triggering. As I type this, both ER2 and YM are making end of day moves, but my rules keep me out of the market for the final 15 minutes. Even though I lost all three trades, I do not consider it a loss because I exited when the signals reversed and did not hold on for larger losses. We chopped around a bit, I lost a bit, but I expect to bounce back when we get one of those momentum days.

Summary for the day is below:

YM: -16 ticks (equal to -$80 per one contract position)
ER2: -18 ticks (equal to -$180 per one contract position)

Days Range: 76 points (as defined by YM)