Friday, October 09, 2009

10/8/09 band trading

After finally installing my smarttradepro stretchomatic 2.5 atr volatility bands I commenced to trading. While looking at the es all my trades were with the ec.
Going back three days is where I will start since that is when the bands were installed.
10/7 8:21am. Long 1.4690. 8:35 exit 1.4695. The entry was a bottom band long and the exit was a mid band exit. Fairly standard trade. The market didn't move past that swing high for hours. Captured most of the swing. Also note that the bottom band wasn't touched and the market was choppy sideways. There were only 3 real touches all day. 2 tops and one bottom
10/8 10:10 short 1.4777 10:15 cover 1.4773. The top band was touched and shorted. It was an upward trending market. I was against the trend but it had not developed at that point and was not evident. Market never yielded much more downside for rest of the day. Captured most of small range.
19:11pm session. One trade. Long 4757. Cover 4753. Small loss but market did proceed to go up 4777 the next bar. It was a bottom band entry and I was stopped at the bottom of the move. Stop too tight and cost me 20 ticks.
10/9 9:15 short 4749. Band touch. cover 9:19 4744. Once again a small gain but market didn't continue to downside. captured most of move.
10:53 long 4722. band touch. Not trend evident at entry. Exit stopped out 4713. 9 tick loss10:55 Long 4711. Band touch. Trend developing at this point but took entry immediately after stop out of first trade. Cover 4699 11:05.
Clearly I was hunting for the bottom. need a rule that states no re-entry after stop out for some period of time or not same direction.

trader x

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