Monday, December 27, 2004
12/27/04 Back at it
My first day back at it was a success! I had fun today.
1st trade. Bot the S&P's at 121350 (9:05:28)
covered at 121250 at 9:08:58. The market started it's decline and I bot into it! Good thing I was only risking 1 point on that one. Next I was waiting for a spike to play off of the negative bias.
2. Sold SP at 121525 at 9:32:33
Sold SP again 121475 at 10:01:37
covered 121200. 10:24:26.
Market spiked and I went short. It spiked again but with less pressure so I sold again as we were going into the NY lunch hour. Market got really weak after 10:15 or so because so many traders went to lunch. I covered shortly after. I went to lunch and ran some errands.
3. Sold SP at 121125. 13:56:11. Sold again at 121100. 14:24:10.
covered at 121025 at 14:30:25.
I shouldn't have done this trade because there was no real spike involved. This was a channel trade where I was trying play in a narrow range of say 2 points and trying to get about 1/2 of it. I did but I really need to be careful with these.
So today was a good day for me. Starting out I am only buying or selling 1 contract and scaling in with only 1 contract at a time up to 5 MAX. I will continue to do this until I feel comfortable with my trading techniques. I will also look at the Bonds some more tomorrow. Man, they really fell off the face of the earth today. A great slope down all day. I should have given that market a try as well. Oh well. You will never catch them all! The time is Central and I will use the E-mini quotes for the March contract with no decimals.
I will continue to log more tomorrow.
Trader X
1st trade. Bot the S&P's at 121350 (9:05:28)
covered at 121250 at 9:08:58. The market started it's decline and I bot into it! Good thing I was only risking 1 point on that one. Next I was waiting for a spike to play off of the negative bias.
2. Sold SP at 121525 at 9:32:33
Sold SP again 121475 at 10:01:37
covered 121200. 10:24:26.
Market spiked and I went short. It spiked again but with less pressure so I sold again as we were going into the NY lunch hour. Market got really weak after 10:15 or so because so many traders went to lunch. I covered shortly after. I went to lunch and ran some errands.
3. Sold SP at 121125. 13:56:11. Sold again at 121100. 14:24:10.
covered at 121025 at 14:30:25.
I shouldn't have done this trade because there was no real spike involved. This was a channel trade where I was trying play in a narrow range of say 2 points and trying to get about 1/2 of it. I did but I really need to be careful with these.
So today was a good day for me. Starting out I am only buying or selling 1 contract and scaling in with only 1 contract at a time up to 5 MAX. I will continue to do this until I feel comfortable with my trading techniques. I will also look at the Bonds some more tomorrow. Man, they really fell off the face of the earth today. A great slope down all day. I should have given that market a try as well. Oh well. You will never catch them all! The time is Central and I will use the E-mini quotes for the March contract with no decimals.
I will continue to log more tomorrow.
Trader X
