Trader X

Sorry it's been a while since I've blogged but I have been making too much friggin money! I am up to 5-20 eminis and I am doing those Tick trades to the tune of about $500 to $2000 every day. I haven't had a losing day in two weeks now! When the Tick gets above 800 or so I will sell 5 eminis and then if it goes to 900 another 5 lot and then 1000 is another. I am getting usually 2 or 3 of these trades a day. There is one usually about 9:00 when the institutions come in the market. That is usually my first trade. I set a stop about 3-6 points away and my profit objective is 1-3 points. I use the closer stops and lower profits for the 800 level and go higher from there. I let the market tell me how much volatility there is and I adjust my profits and stops accordingly. I really need to start paying attention to other trades like the Range trade (market closes in the upper or lower 1/3 of range) and some bonds trades. I only hope that my success continues with these trades. I will say that there haven't been very many - tick trades... I think almost everyone I've done has been a + 800 or more. I have only seen the spurts of buying and then the drops in the markets but the Tick hasn't really dropped that much... -400 to 600. Not many in the -800 range. I will say that the tick trade may not work as well in an upward trending market. Also I've learned not to trade the Last day of a quarter and the first day of a month due to window dressing and money inflows.

Trader X