Tuesday, January 04, 2005
1/4/05 This is too easy!
I'm going to say right now that this is beginners luck. I do know that I'm getting better on reading the market trend and using the Tick and Tiki when I'm trading but today was too easy. I expect many worse, losing days ahead.
I started off thinking that we were going to close the gap from yesterdays close. Going on that assumption, I was short all the way to the gap, then I covered. I went short again, and covered on the close. Here are the trades
822 s sp @ 120700
847 s sp @ 120625
901 s 3 sp @ 120575 The market rallied back but I had my stop in at 120875 a little above the overnight high. At this point I'm short 5 contracts that rallied so I was under water on all 5. I held strong where my temptation was to cover and just get out. The Tick never really showed much strength so I held firm on my stop.
1015 b 5 sp @ 120250. The market had a little rally as I was about to leave to take care of some errands I had to run. I was going to be out for several hours. The market ticked up a few and I was out.
1050 s 1 sp @ 120200. I was getting ready to leave and I noticed more weakness. The tick was going negative. I sold and set the stop above the most recent 5 min bar high... 120450
1449 b 1 sp @ 119000. I came back about 20 minutes before the close and the market never hit my stop. I was doing OK. I was watching the market and it looked very flat before the close so I just took my trade off the table.
I think today I was $1 short of $1500! I would say it was a record for me!
Tomorrow I will try to figure out which way the market is going to go and then trade in that direction. Remember yesterday? I was trying to trade against the trend all day and I wasn't getting anywhere until I go hit in the head several times the the market was going down. Then I started shorting. I have to remember not to be so stubborn in the future!
I need to look at some bond setups! That is my goal for next week.
Trader X
I started off thinking that we were going to close the gap from yesterdays close. Going on that assumption, I was short all the way to the gap, then I covered. I went short again, and covered on the close. Here are the trades
822 s sp @ 120700
847 s sp @ 120625
901 s 3 sp @ 120575 The market rallied back but I had my stop in at 120875 a little above the overnight high. At this point I'm short 5 contracts that rallied so I was under water on all 5. I held strong where my temptation was to cover and just get out. The Tick never really showed much strength so I held firm on my stop.
1015 b 5 sp @ 120250. The market had a little rally as I was about to leave to take care of some errands I had to run. I was going to be out for several hours. The market ticked up a few and I was out.
1050 s 1 sp @ 120200. I was getting ready to leave and I noticed more weakness. The tick was going negative. I sold and set the stop above the most recent 5 min bar high... 120450
1449 b 1 sp @ 119000. I came back about 20 minutes before the close and the market never hit my stop. I was doing OK. I was watching the market and it looked very flat before the close so I just took my trade off the table.
I think today I was $1 short of $1500! I would say it was a record for me!
Tomorrow I will try to figure out which way the market is going to go and then trade in that direction. Remember yesterday? I was trying to trade against the trend all day and I wasn't getting anywhere until I go hit in the head several times the the market was going down. Then I started shorting. I have to remember not to be so stubborn in the future!
I need to look at some bond setups! That is my goal for next week.
Trader X
