Thursday, September 29, 2005
9/29/05 800 tick trade
We had a high tick about 10:48 above 800. I shorted an es at 122000 with a stop at 122400 and prof obj of 121700. I was stopped out because we had a higher tick of the day just 15 minutes later!
Trader X
Trader X
9/29/05 another support
Market hit my stop and I'm out but I bot 2 more es at 121725 on a upturning tick, huge sr level at 121600, and green bar off the bottom. I waited for it to stop going down before I bot. I'm looking for a 50% retracement of the last slide to 121925. Stop at 121600.
Took trade off at 121900. If I had let it run it would have hit 121925 but my 15 min timer ran out. Time stops you know? This trade effectively reversed the loss on the 121675 stopped out trade.
Trader X.
Took trade off at 121900. If I had let it run it would have hit 121925 but my 15 min timer ran out. Time stops you know? This trade effectively reversed the loss on the 121675 stopped out trade.
Trader X.
9/29/05 support trade
The market has fallen to the sr level of 121900. I'm long at 121975. Stop at 121675, profit at 122175. Remember that this is the end of a month and the end of a quarter. 2 reason for market support. In fact this market should be running away but isn't which bodes poorly for Oct.
Just added another es at 121825. Almost the same setup as the first one. So far this is a higher low than last time.
Trader X
Just got stopped out at 121675, another support setup here as well, but I'm going to pass
Just added another es at 121825. Almost the same setup as the first one. So far this is a higher low than last time.
Trader X
Just got stopped out at 121675, another support setup here as well, but I'm going to pass
9/29/05 opening
The market tanked on the open and I just watched. I was looking at the s/r levels and waiting. Since we have been range bound for the last few days I waited until it hit the first s level at 121925. bot 1 es. We then dropped a little lower into the 17's and it stablilized. I bot again at 121800. I had my stop in at 121500, below the previous lows on my 60 minute chart. The market slowly formed a wedge and I waited for the breakout. I took my first contract off at 122025 and it rallied again with a high tick of over 800. I sold the second contract at 122225.
After the high tick the market proceeded to drop down 2 points. I did briefly bring up my stop but I got out completely just after that.
The high tick was a sell point to me that I missed because everything was going to fast. That's OK. The process work. I'm waiting for my next entry.
After the high tick the market proceeded to drop down 2 points. I did briefly bring up my stop but I got out completely just after that.
The high tick was a sell point to me that I missed because everything was going to fast. That's OK. The process work. I'm waiting for my next entry.
Wednesday, September 28, 2005
9/28/05 I'm back...
I have been on vacation for a couple of weeks. Trade Mon, up $100 or so. Tues, lost $1000 (unacceptable). Wed, up $63. I had three trades today.
Open bar break out from 122575 to 122675. One point profit. Then a tick trade from 12575 to 12500, net 3/4 point.
The last trade was a S/R trade. Market hit 12225 and I bot. It broke thru to 122100 I sold. It kept going lower and then finally rallied back to by buy point but not much above.
There are several things I need to work on this week. I need to do more homework before the market opens on S/R level so I know them before the market opens. I am also back to printing off my daily trades after the close and writing down what the reason was for each trade and what I made or lost. I have to have this data if I'm going to be able to analyze my trades in the futures. I should really analyze everynight like I used to do and I am now doing as well. I will go back to blog entries every trade if I think of it. It all just needs to become habit because I am a better trader when I do these things! I need to do this to become profitable.
Yesterday sucked because I started betting big after a small loss trying to make it all back. Next thing I know I am trading 20 minis! While my account is large enough to do this and more I have no business trading that amount because of the larger losses it creates. It will take me 3-4 days of option trading to make that back.
Trader X
Open bar break out from 122575 to 122675. One point profit. Then a tick trade from 12575 to 12500, net 3/4 point.
The last trade was a S/R trade. Market hit 12225 and I bot. It broke thru to 122100 I sold. It kept going lower and then finally rallied back to by buy point but not much above.
There are several things I need to work on this week. I need to do more homework before the market opens on S/R level so I know them before the market opens. I am also back to printing off my daily trades after the close and writing down what the reason was for each trade and what I made or lost. I have to have this data if I'm going to be able to analyze my trades in the futures. I should really analyze everynight like I used to do and I am now doing as well. I will go back to blog entries every trade if I think of it. It all just needs to become habit because I am a better trader when I do these things! I need to do this to become profitable.
Yesterday sucked because I started betting big after a small loss trying to make it all back. Next thing I know I am trading 20 minis! While my account is large enough to do this and more I have no business trading that amount because of the larger losses it creates. It will take me 3-4 days of option trading to make that back.
Trader X
