Sunday, April 23, 2006
Another Week of Woe
Well, no one said trading was easy. Teq has reported that 90% of trades blow up in the first year. After a week like this one, I can see why. Here is the run down from Tuesday on.
Tuesday: 4/18: only 1 es trade, sold 14:25 at 3:52, out @ 13.75 at time limit, +.5 x 2 contracts.
Had a paper sell @ 1298.50 (LOHP) @ 10:15. Reversed @1299.50 (-1 x2) PP@ 1300.50, moved stop up as es ran; 98.50, 99.50, 1300.50, 1.50, and stopped out there for a net of +1. (Note: had tightened stop due to several high ticks. After stop out, es continued higher).
Second paper trade was a buy @ 1308.75 (another HOLP I think) @2:50. PP @ 8.75, stop moved up @ 1 pt increments to 14.25. Stopped out there for a net of +5.5.
Tuesday totals Real$$ -.5. Paper trade +6.5! (Note: Bond trade did not hit)
Wednesday 4/19: Real $$ globex trade short @1316.50 @5.58 off 3 & 5 min phase. Stopped mailto:u0@18.25 for a net of -2 x 2 contracts. Bond trade was short at 106 31. PP @ 106 29 for +2 ticks. Reloded back @ 31 & PP again at 29. runnner stopped out at 107 00, -1 teck for a net +3 ticks.
Paper trades were HOLP @ 1311 @10:49. PP @1312, stop move up in steps to 1313. several high ticks happend & then stop out here for a net of +3 points. Next paper trade was LOHP short @ 1313.25 @ 11:15, PP @ 12.25 @ 11:19; out @ b/e. Had a second paper LOHP short @ 1313.50 @ 2:05, pp @12.50, stopped out @ b/e
Wednesdays totals: Real $$ +3 bond ticks. Paper trades +3 points
Thurday 4/20: Pilly Fed day so not bond trade. Only trades were paper: HOLP buy @14.75 @ 9:46, pp @ 15.75. Moved stop to 14.75 for economic release @ 10:00. es ran up & moved up stops to 22.75. Stopped out there for a +9 point gainer!! Second paper trade was a long @1318 @ 3:52. Out @ 1317 (time) for -1 pont.
Thursday total: paper trades +8 es points!!
Friday 4/21: Bond trade sold 107 07 @12:28, pp @ 05 @12:46. Reloaded @1:15; pp again @1:43. Dumped runner @ 107 13 for -6 ticks, net -2. LESSON - When bonds hit second pp & cannot hit 4 point target....EJECT!!!!!
Paper HOLP long @1317.75...This was a bad trade as I realized after that 5 min sq had fired SHORT. Reversed @1316.75 (-1pt x 2) pp@ 15.75, stop moved down to 15.75. Time went on with not much movement. Took off runner @ 14.75 for a net of +1 point. Should have hung in & could have squeezed out another point.
Friday totals: Bonds -2 ticks. Paper es +1 point
Weekly totals: Real $$ -12 bond ticks, -.5 es points. Paper trades 18.5 points!!! This tells me the HOLP/LOHP set up is a good one and I should start trading real $$ with this strategy. Teq & I had said we were going to papert trade this for 2 weeks before starting with real $$. I am temped to jump in now. Next week is the last week of April & I am still way down for othe month. If this set up continues to show promise, I may have to start trading it with 1 contract to recoup some capital.
Lessons learned: Bonds - taking the 2 tick pp on one contract & reloading will work if I eject the runner after the second pp & bonds cannot make it to the 4 tick target. Will adjust this trade.
es - HOLP/LOHP continues to produce positive results. Just have to watch internals & take trades in that direction only.
ON TO NEXT WEEK!!!!!!
etr
Tuesday: 4/18: only 1 es trade, sold 14:25 at 3:52, out @ 13.75 at time limit, +.5 x 2 contracts.
Had a paper sell @ 1298.50 (LOHP) @ 10:15. Reversed @1299.50 (-1 x2) PP@ 1300.50, moved stop up as es ran; 98.50, 99.50, 1300.50, 1.50, and stopped out there for a net of +1. (Note: had tightened stop due to several high ticks. After stop out, es continued higher).
Second paper trade was a buy @ 1308.75 (another HOLP I think) @2:50. PP @ 8.75, stop moved up @ 1 pt increments to 14.25. Stopped out there for a net of +5.5.
Tuesday totals Real$$ -.5. Paper trade +6.5! (Note: Bond trade did not hit)
Wednesday 4/19: Real $$ globex trade short @1316.50 @5.58 off 3 & 5 min phase. Stopped mailto:u0@18.25 for a net of -2 x 2 contracts. Bond trade was short at 106 31. PP @ 106 29 for +2 ticks. Reloded back @ 31 & PP again at 29. runnner stopped out at 107 00, -1 teck for a net +3 ticks.
Paper trades were HOLP @ 1311 @10:49. PP @1312, stop move up in steps to 1313. several high ticks happend & then stop out here for a net of +3 points. Next paper trade was LOHP short @ 1313.25 @ 11:15, PP @ 12.25 @ 11:19; out @ b/e. Had a second paper LOHP short @ 1313.50 @ 2:05, pp @12.50, stopped out @ b/e
Wednesdays totals: Real $$ +3 bond ticks. Paper trades +3 points
Thurday 4/20: Pilly Fed day so not bond trade. Only trades were paper: HOLP buy @14.75 @ 9:46, pp @ 15.75. Moved stop to 14.75 for economic release @ 10:00. es ran up & moved up stops to 22.75. Stopped out there for a +9 point gainer!! Second paper trade was a long @1318 @ 3:52. Out @ 1317 (time) for -1 pont.
Thursday total: paper trades +8 es points!!
Friday 4/21: Bond trade sold 107 07 @12:28, pp @ 05 @12:46. Reloaded @1:15; pp again @1:43. Dumped runner @ 107 13 for -6 ticks, net -2. LESSON - When bonds hit second pp & cannot hit 4 point target....EJECT!!!!!
Paper HOLP long @1317.75...This was a bad trade as I realized after that 5 min sq had fired SHORT. Reversed @1316.75 (-1pt x 2) pp@ 15.75, stop moved down to 15.75. Time went on with not much movement. Took off runner @ 14.75 for a net of +1 point. Should have hung in & could have squeezed out another point.
Friday totals: Bonds -2 ticks. Paper es +1 point
Weekly totals: Real $$ -12 bond ticks, -.5 es points. Paper trades 18.5 points!!! This tells me the HOLP/LOHP set up is a good one and I should start trading real $$ with this strategy. Teq & I had said we were going to papert trade this for 2 weeks before starting with real $$. I am temped to jump in now. Next week is the last week of April & I am still way down for othe month. If this set up continues to show promise, I may have to start trading it with 1 contract to recoup some capital.
Lessons learned: Bonds - taking the 2 tick pp on one contract & reloading will work if I eject the runner after the second pp & bonds cannot make it to the 4 tick target. Will adjust this trade.
es - HOLP/LOHP continues to produce positive results. Just have to watch internals & take trades in that direction only.
ON TO NEXT WEEK!!!!!!
etr
# posted by Trader X @ 1:33 PM 
