Wednesday, April 05, 2006
Results of 4/406 Trading
Trade#1: Sold es @ 1309 expecting the pivot to repel the move up. Neglected to check internals...put/call was above 1 & es kept motoring higher. Stopped out at 1311. -2 points
Trade #2: doldrum bond trade. Sold 109 07 with target of 04. Only 3 ticks today because of low volume. (4 would have worked today) Targer hit. + 3 ticks
Trade #3: Doldrum bond trade #2. Bought 109 01 with target of 04. Bonds went lower, got as high as 02, closed out trade at 3 pm at 108 30. -3 ticks
Trade #4: Sold es @ 1313 for the 2 pm reversal trade. Closed at 1312.50 at time limit. +.5 (only 1 car fill on this position)
Trade #5: Sold es @ 1313.75 for the 3:52 pm reversal. Closed at 1314.50 at time limit. -.75
Overall not a good day at all. Lessons learned: get better at reading market internals. Holp & lohp are good indicators but es was moving too fast during reversals to catch any trades. Watch candle patterns.....bulls move es up with a few large candles....took bears many candles to erode gains.
Trade #2: doldrum bond trade. Sold 109 07 with target of 04. Only 3 ticks today because of low volume. (4 would have worked today) Targer hit. + 3 ticks
Trade #3: Doldrum bond trade #2. Bought 109 01 with target of 04. Bonds went lower, got as high as 02, closed out trade at 3 pm at 108 30. -3 ticks
Trade #4: Sold es @ 1313 for the 2 pm reversal trade. Closed at 1312.50 at time limit. +.5 (only 1 car fill on this position)
Trade #5: Sold es @ 1313.75 for the 3:52 pm reversal. Closed at 1314.50 at time limit. -.75
Overall not a good day at all. Lessons learned: get better at reading market internals. Holp & lohp are good indicators but es was moving too fast during reversals to catch any trades. Watch candle patterns.....bulls move es up with a few large candles....took bears many candles to erode gains.
# posted by Trader X @ 3:07 AM 
