{"id":592,"date":"2020-05-31T17:02:08","date_gmt":"2020-05-31T15:02:08","guid":{"rendered":"http:\/\/market-and-us.com\/blog\/?p=592"},"modified":"2020-05-31T17:02:09","modified_gmt":"2020-05-31T15:02:09","slug":"on-the-way-to-the-top-of-the-channel","status":"publish","type":"post","link":"https:\/\/market-and-us.com\/blog\/on-the-way-to-the-top-of-the-channel-592\/","title":{"rendered":"On the way to the top of the channel"},"content":{"rendered":"\n

Markets are bullish<\/strong> and on the way to the top of the monthly channel you know from my last articles. So, next week we’ll hit a new high<\/strong> and will turn down – range or downtrend?<\/strong><\/p>\n\n\n\n

Market Ideas<\/h2>\n\n\n\n
\"\"
ES, daily<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n

Scenario (1) of last week<\/a> came true. We broke the moving averages and price is on it’s way to the top of the monthly channel at around 3100 in ES<\/strong>.<\/p>\n\n\n\n

So, it’s not a mystery what I expect if you read the last week’s articles:<\/p>\n\n\n\n

We’ll touch the upper limit of the monthly channel at little above 3100<\/strong> and then we’ll turn down to the moving averages and most likely back to bottom at 2800<\/strong>.<\/p><\/blockquote>\n\n\n\n

\n\n\n\n

Because I had no changes in my portfolios<\/strong> this week I’ll jump over to the futures immediately:<\/p>\n\n\n\n

Futures Experiences<\/h2>\n\n\n\n

Below you see that anything don’t want me to win already. Compared with what I am learning through this period of trading it totally makes sense. But a positive month had just been “nice”<\/strong>. \ud83d\ude42<\/p>\n\n\n\n

Last Week:<\/strong>
\u2022 Paper account: -$158.89 (1 green day, 2 break even, 2 red days)<\/em>
This Month (May):<\/strong>
\u2022 Paper account: -$163.35
[all amounts after commissions and fees, live account still pausing]<\/em><\/p>\n\n\n\n

On Monday I didn’t took a trade and Tuesday and Wednesday were full of losses<\/strong> although I anticipated the right direction and moves<\/strong> but just late entries – too cautious after 3 day more or less paused trading.<\/p>\n\n\n\n

Thursday and Friday weren’t good enough to recover anything. Of course, in live trading I had stopped after two losses and the overall loss had been smaller.
But I am happy that my paper trading has come to a realistic level where I can work on everything and if it will work then I can adapt everything to live trading.<\/p>\n\n\n\n

Next week I’ll try a tighter stop level<\/strong> for one of the 2 contracts I trade and I will completely dispense shifting my stop to break even<\/strong>. I analyzed my past trades much more in detail<\/strong> with Python graphs and calculations to watch the win rate without adding break evens to winners and watching MES and MNQ values separate.<\/p>\n\n\n\n

I recommend doing all the statistics<\/strong> you can do to get a better view on your overall trading. If many of you would be interested in a new article about coding trade statistics with Python I would write my work down for you. Just comment below.<\/p>\n\n\n\n

\n\n\n\n

That’s it for today. Short but I hope useful for most of you.
Stay healthy and enjoy the week!<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Markets are bullish and on the way to the top of the monthly channel you know from my last articles. So, next week we’ll hit a new high and will turn down – range or downtrend? Market Ideas Scenario (1) of last week came true. We broke the moving averages and price is on it’s […]<\/p>\n","protected":false},"author":1,"featured_media":598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":""},"categories":[5],"tags":[13,141,113,60,161,160,30],"yoast_head":"\nOn the way to the top of the channel - The Market and Us<\/title>\n<meta name=\"description\" content=\"Market is on the way to the top of the channel and my knowledge in futures is growing exponentially but this week still was a negative one. 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