Brutal Thursday

Thursday's open was slow. It was also a bit more choppy than I had expected. This led me to changing up some of my charts as well, which didn't produce better results at all.

I mentioned this in an older post about how I trade with volume bars. For example, I set my volume bars to 5,000 contracts on NQ, 3,000 on ES, and 1,000 on YM. This worked well last week and provided sufficient information while filtering out the noise.

However, I noticed that it was almost as if I was losing information today when I used the same parameters. This led me to tweaking my chart settings so that I was using 2,000 on ES and 500 on YM. Surprisingly, this didn't produce better results at all.

TSTrader Performance Center

Reflecting on my trading performance for the day, I don't think I made any major mistakes. Once the session started, all the major indices trended higher. Of course, this was me looking at it in hindsight now that we're midway through the session. However, there were dominant, bearish bars forming in real-time. Anticipating a reversal, I entered quite a few short positions that were eventually scratched or stopped out. Another question is could I have capitalized on the uptrend? Reviewing the price action, I think the answer is no. The price action was just way too choppy for me to hold onto the trade and experience unrealized losses.

Despite this loss that nearly hit my daily loss limit, I'm glad that I didn't revenge trade. I continued to take trades that followed my setups. They simply didn't work out. One more day tomorrow to slowly grind this through.