The Business of VWAP
Category: Trade Journal
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Three shorts across ES, gold and NQ, all correct on direction, all closed early. Net +$384.22 on a night that then fell a long way without me. The heat I sat through was bigger than the profit I kept on every trade.
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Two longs on the same read, Sunday night. NQ moved 16 points in nine minutes for $633.80. ES was scaled in and out over two hours for less than a point per contract. Same lesson as September 20, louder.
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A single full-size gold contract, long off the low of a pullback, held eleven and a half minutes for 6.4 points and $636.46. Tight entry, little heat, solid capture. Then gold ran another 27 points without me.
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Ten trades, nine winners, net +$1,818.50 and the best profit factor in the log. ES went four for four. The one NQ loss was cut inside two minutes, which is exactly the stop that was missing the night before.
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A clean NQ long right after the open, then one 2-lot short that never worked and got held past the point where it was clearly wrong. Net minus $732.40. A stop around 10 points would have kept the day close to flat.
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An overnight NQ swing, one clean ES trade in the cash session, and an evening of quick scalps. Thirteen trades, eleven winners, net +$1,886.68. The overnight worked, but its drawdown was about eight times its final profit.
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Sunday night, minimum size: one NQ long and one ES long on the same read, both held about half an hour, both winners. The best capture rate in the log so far, and a lesson in which symbol pays for a directional idea.
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Six trades, six winners, 18 minutes in the market all night. The NQ scalps captured 80 to 90% of their moves; the two ES trades carried the size and captured half or less. Second perfect Globex session in a row.
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First perfect night in the log: eight trades, eight winners, everything long, across NQ, ES and gold. Two of the NQ trades took 24 to 32 points of heat before they worked, which is the part worth remembering.
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Sunday’s Globex reopen: eight trades, six winners, profit factor 3.93, my best in the log. The 8-lot ES trade held an hour on 1.25 points of heat and made the day, and the one real mistake was out in 30 seconds.