Futures (MES) algo trading journal Wednesday 11/24/21.
5 trades triggered today by the algo. The MES had strong upward momentum then got stuck in a tight oscillator. Usually this type of price action is a money printer. But those times are gone, so I just finished the day a little green.
The first pullback triggered trade 1 and the price moved up and missed my target by 1 tick. The price dropped and I was out at BE. Shortly after a second trade was triggered. the price moved up again and missed my target by 4 ticks. Then back down and out at BE. The price dropped enough for the algo to enter the long with a really good price. Finally we hit the target. After that the price moved higher and created a new high and the pullback triggered a long trade. This slippage was the worse I have seen in 3 years of trading. There was 4 points (16 ticks) of slippage. Really bad slippage is usually 3 ticks. My target was 5.5 points. So even though the target was reached essentially no money was made. Then a final trade was triggered. The price moved a little in my favor then sunk and out with a full loss.
Have a good Thanksgiving. See you Friday.
Rob C