ES futures trading looked boring yesterday. ES closed at 6845. NQ at 24,773. PPI came in, market yawned, and here we are.
It’s Valentine’s Day. You know what that means? Absolutely nothing for futures trading. But I’m mentioning it because I almost placed a revenge trade this morning after missing dinner reservations last week.
Market’s been consolidating since CPI on the 12th. ES bounced between 6808 and 6897 this week. That’s an 89-point range. Decent volatility but no clear direction.
Here’s what kills funded accounts: trading when there’s nothing to trade.
ES Futures Trading Setups That Weren’t
Watched ES test 6850 three times yesterday after PPI. Classic resistance. Textbook short setup for ES futures trading, right?
Wrong.
Volume was garbage. No follow-through. The kind of price action that looks clean on a chart but chops you to death in real-time.
I didn’t take it. Proud of myself? Not really. Six months ago I would’ve forced that trade and given back $800.
What Happened in ES Futures Trading This Week
CPI Wednesday (Feb 12): Initial spike, then fade. Market didn’t care as much as ES futures trading desks wanted it to.
PPI Thursday (Feb 13): Same story. Little pop, consolidation, nothing dramatic.
Michigan Consumer Sentiment (also Thursday): Did you even notice? Exactly.
Point is, we’re in between catalysts. Next Fed meeting isn’t until March. Earnings season winding down. Market’s just..existing.
The Valentine’s Day Connection
Stay with me here.
You know what’s worse than a bad trade? Forcing a trade because you feel like you should be doing something.
Same energy as panic-buying flowers at a gas station because you forgot to plan ahead.
Both situations: you knew better, you had time, you still screwed up.
I’ve blown three funded accounts. Not from bad strategy. From impatience. From thinking every day needs to be a trading day.
ES Futures Trading Levels for Next Week
If ES holds 6820, we’re probably heading back to test 6900. Clean support there from last month.
If we break below 6800, I’m watching 6750. That’s where buyers showed up in January.
NQ’s following the same pattern. 24,500 is the line. Above that, we’re fine. Below it, things get interesting.
But here’s the thing: I’m not forcing anything until we get a clean break either direction.
The Lesson I Keep Relearning
Markets are open Monday through Friday. You don’t have to trade every single session.
Valentine’s Day falls on a Friday this year. Market’s consolidating. No major catalysts.
Perfect day to..not trade. Go do literally anything else.
Passed your eval? Great. Don’t blow it trying to be a hero on a choppy Friday before a long weekend.
Your stop loss doesn’t care that you have a daily profit target. The market doesn’t care that you’re bored.
Trade setups, not time.
Anyway. Flowers are expensive this week and so are bad entries in ES futures trading.
Check out more prop trading insights if you want to avoid blowing funded accounts.
Choose wisely.