KING - Kick-ass e-mini futures trades
There is no doubt that 1125 is a pretty cool number, especially if it is preceded by the mighty dollar sign. But that may not be the coolest thing about the image below where this number stands for the Net P/L, with the dollar sign suppressed.
The coolest thing about it, I think, is the total number of 10-pointers, which is six. I don't think that any other screenshot in the whole multi-year gallery of KING daily e-mini trading results (about 430 of them at this point and counting) shows as many 10-pointers as this one.
The standard target for the Dow e-mini futures (YM) that KING traders use is 5 points, but in good volatility conditions a 10-point target is a very good choice too, as the above screenshot demonstrates. Still, the KING methodology is about quick scalping, so 5-tick targets are more natural for this task.
These trades were taken on February 20th, 2013. You can see a short break I took from my trading between 11:39 and 13:09 during which I posted my trading results on this site (see another screenshot) and then announced them on Twitter, as I usually do. Because of good volatility, I decided to continue my trading. All the six 10-pointers came after the break. Out of the 7 post-break trades, as many as 6 were 10-pointers.
Notice that I did not use more than 4 contracts per trade, opening each position with 2 contracts. This is typical of my trading in good volatility conditions when I am in top form.
To see how the market was behaving on that day, check out the Sierra Chart chart screenshot showing 5-minute bars. The arrows mark the beginning and end of my trading on February 20th, 2013. My trading took place in a range of nearly 100 points (94 to be precise) and I managed to extract exactly 100 points out of it (per contract), 33 of which came before the break. Not bad at all.
The screenshot you see above shows better daily results than any I had in 2012, as you can see from the screenshots in this article. They were accomplished with fewer trades too (14 against 15 or 18). But that still is not even close to my best trading day, that of August 4th, 2011. You may again notice that no more than 4 contracts per position were used on that day, confirming that volatility was indeed good then.
Posted on February 25th, 2013.