This week was a bit hit or miss in terms of daily opportunity, but were those hits ever great! Wednesday and Friday both had some excellent swings with phenomenal results so it didn't bother me much that I didn't even try a trade on the Thursday when the Brexit vote was to take place. As it turns out, Monday was also a solid day that would have had some points available had I traded it so we pretty much flip-flopped during the week between great days and slow ones.
Day trading Emini S&P 500 (ES) futures this week was quite the ride! I'm certainly happy with the overall result because as a trader I know that 19 points in a week while only risk a max of 1.25 points per trade is nothing to scoff at. That's a considerable reward for the amount risked per trade! It's also very much in line with some of the previous weeks and as I constantly say, consistency in this business is everything. That said, I'm still a bit disappointed with my performance at times during the week and see plenty of room for improvement.
If there's a lesson for the week it's that trading discipline and following the plan are the most important factors to consistent profitability. Sound familiar? Pretty sure that's the lesson every week!
This week certainly didn't get off to a roaring start but in the end it turned out to be quite a good one overall and offered some excellent trading opportunities. Coming off a long weekend there's often less market volume on Tuesday so there really wasn't a big surprise when things were slow early. Still, I'll admit I was a bit more optimistic for a stronger start after already seeing a slower market on Friday last week but with a little bit of patience things certainly improved and there were great trades to be had throughout the week.
Those of you who follow Samurai Trading Academy on Facebook have probably already noticed but this week I've started to put out regular market recaps again to go over some of my trades. It's pretty time-consuming putting together detailed recap posts each day and sometimes difficult to find the energy after a highly focused trading session but these quick video recaps are a lot easier to stay on top of.