Wednesday, March 19, 2008
revenge of the pirate ego!
Once upon a time way back when... like maybe 2-3 years ago I wrote a piece here about my issues with revenge trading. As you may or may not recall I would get really pissed off after a losing trade or two and then let Stupid take over my trading. Stupid would do things like double or triple the amount of contracts and would take trades that were no were near being a setup all in the attempt to make back the small losses. Well, lets say that 9 times out of 10 this would result in a much larger loss and of course the 1 out of 10 times it would actually work would just reinforce how great a trader Stupid actually wasn't. Although this problem has been there from day 1 I have made progress over the years. I finally stopped doing this to the extent that it would blow up my account on a regular basis. My accounts would only blow up on a semi regular basis. Real progress.I have been working on the premise for the last 6 months that it was fear that was causing such behavior... fear of failure. For 6 months I have been doing psych work and exercises to solve this problem but to no avail. The definition of insanity is doing the same thing and expecting different results. I decided that I have been insane for 6 months. Then I had a revelation... I was wrong once again........ So I decided to do something different.I figured that if FEAR wasn't feeding STUPID that it had to be something else. My other choice was GREED and EGO. These two were working together with STUPID! The dynamic evil trio was at large. Ego was the main culprit. Now I had a problem to solve. At least I had some ammo to shoot at it this time.I have learned several different methods of dealing with psych issues in the last few months at a few different seminars and I started with parts negotiations as my first line of attack followed up by more Centerpointe Holosync. Let me back track first.Holosync is the reason I believe that I was finally able to figure out that ego was the issue. It is a great program that uses low frequency sounds wave via music to stimulate cross brain communications. It helps your subconscious communicate with your self. It was during one of these sessions of listening while thinking about this problem that ego came up. I try to do this daily for continued improvement.Parts negotiation is basically splitting parts of your personality into parts, then identifying the one (ones) that are causing problems and then negotiation with those parts to stop the behavior for a reward. I told ego that I understood he didn't like being wrong but by getting angry like a child was not way to help me. It was causing me to lose money. So what ego and I came to an agreement to do was that he would not interfere with my trading, and let me make money so that I could buy something that he thinks is really cool. Something that would feed him like an L-29 Cord. It's a really cool old car for those of you that have no idea. Ego really likes cool cars cause then ego thinks he is cool you see. You can't buy cool cars without cold hard cash! So he said he would stay out of trading for that reward. Simple.Since I have done this and reinforced it, ego hasn't cause one problem and I have had 2 weeks of money making days every day. I just need to stay focused to make sure ego doesn't creep up again while watching all the other parts of my ego. Works so far..... Red Beard!
Friday, November 23, 2007
Arrgghh!!!!
Wednesday, May 03, 2006
Wednesday, 5/3...More Chop Suey!!!
My head hurts thinking about the day in the the trading toom today. As has happened over the past week, the big move comes early and the rest of the day seems to chop, chop chop. We were really keying into this action though, & I had a plan (although I did not get a chance to explain it to my good trading buddy, Red Beard, aka teq) to allow us to scalp at least 1 point per move. But the cagy es was just not co-operative & we ended up floundering some (at least I did). Anyway, here are the highlights.
Fooser had a fine trade going when I first peeked through my half opened eyes at the computer at about 5:10. He was short from 1318.50 and the mkt had then sold off to around 16.50, so it had moved too far for me to jump in. I was able to enter a globex long as triggered by the phase & macd at 1315. The market moved in my direction & was able to get 1.5 points before being taken out at 16.50.
Next trade was a globex short that turned out to be a scratch just before the open as it had not moved in my favor more than a tick or 2. Turns out if I had of led it ride it would have been a nice 3-4 point winner.
next was a holp long @ 1313.25 at around 10:20. Went as high as 14.50 befor reversing & stopping me out for -2 points. Note here....a doji formed on the candle that I entered on and then the next candle closed below it. Probably should eject when I see that next time.
Unfortunately the rest of the day was so choppy, we were doing paper trades, reversing, exiting, you name it and I must confess, I had a problem focusing on it cause I was stuck in a bond trade with my runner in limbo land. Oh yes, the bond trade....
Stood aside for the first 15 minutes or so of the bond trade as Berrnanke was supposed to make some speech somewhere. Turns out it was a very bland speech, not on the economy or Fed issues, & had no affect on the market. Of course, the bonds were right at 105.31 at noon & soon moved lower, right to the exit point of 17 before I could get an entry. Was able to get a fill on a bounce up, & watched as the bonds continued up to 106 03. It did reverse finally & I was able to pp @ 27. No luck on the runner tho and, well, guess what, I broke the rules & left it in cause I coulnd't take a 3 tick loss @ 3 pm. So now I am here at 9:15 with a b/e order in @ 105 31 STILL! Bad, very bad!
As I said the rest of the afternoon was a blur and will have to revert to red beard's dilligent recording for the rest of the day. I do know that the 5 min sq signals were good for a few points today when they fired off.
My last trade was the 3:52 reversal. Another b/e trade on that one.
Totals: paper trades ??? Real $$ -.5 es & +2 bonds ( with 1 runnner hoping to be a b/e)
OK, back to the books.
etr
Fooser had a fine trade going when I first peeked through my half opened eyes at the computer at about 5:10. He was short from 1318.50 and the mkt had then sold off to around 16.50, so it had moved too far for me to jump in. I was able to enter a globex long as triggered by the phase & macd at 1315. The market moved in my direction & was able to get 1.5 points before being taken out at 16.50.
Next trade was a globex short that turned out to be a scratch just before the open as it had not moved in my favor more than a tick or 2. Turns out if I had of led it ride it would have been a nice 3-4 point winner.
next was a holp long @ 1313.25 at around 10:20. Went as high as 14.50 befor reversing & stopping me out for -2 points. Note here....a doji formed on the candle that I entered on and then the next candle closed below it. Probably should eject when I see that next time.
Unfortunately the rest of the day was so choppy, we were doing paper trades, reversing, exiting, you name it and I must confess, I had a problem focusing on it cause I was stuck in a bond trade with my runner in limbo land. Oh yes, the bond trade....
Stood aside for the first 15 minutes or so of the bond trade as Berrnanke was supposed to make some speech somewhere. Turns out it was a very bland speech, not on the economy or Fed issues, & had no affect on the market. Of course, the bonds were right at 105.31 at noon & soon moved lower, right to the exit point of 17 before I could get an entry. Was able to get a fill on a bounce up, & watched as the bonds continued up to 106 03. It did reverse finally & I was able to pp @ 27. No luck on the runner tho and, well, guess what, I broke the rules & left it in cause I coulnd't take a 3 tick loss @ 3 pm. So now I am here at 9:15 with a b/e order in @ 105 31 STILL! Bad, very bad!
As I said the rest of the afternoon was a blur and will have to revert to red beard's dilligent recording for the rest of the day. I do know that the 5 min sq signals were good for a few points today when they fired off.
My last trade was the 3:52 reversal. Another b/e trade on that one.
Totals: paper trades ??? Real $$ -.5 es & +2 bonds ( with 1 runnner hoping to be a b/e)
OK, back to the books.
etr
HOLP
I am excited about these setups and the way we are paper trading them. Seems to be very effective for learning trader psychology.
RedBeard
RedBeard
Tuesday, May 02, 2006
Tuesday, May2
Tuesday sarted with a globex sell around 5:30 or so @ 1313.25. This trade actually went into the mony by about a point or so but the pivot area around 12.75/50 held it from dropping too far. Had a gap down to 8.50 so that was prominent on my mind. There were no 8:30 news releases so I though we had a good chance of closing it after the open. Left my adjusted stop in @ 1314 & headed off to the office. Dang es worked against me & took out my stop right after the open for -.75.
Next was an lohp sell@ 1313 at 9:53. THis was a mismanaged trade on my behalf because we dropped a full point & I failed to lower stop (only 1 car). the mkt chopped around a bit & I was very sure we were going to drop because the internals looked weak. But, as before, the 12.50 area held & soon it reversed direction & took out my stop @ 15.25 (had moved it up a notch) for -2.25 points. I also missed a warning sign, an holp signal that should have gotten me out at that point. Teq started experimenting with trailing stops as per ttm, & we started to use the 2nd prior candle +3 ticks.
Next entered a paper short @1314.75, & moved stops down as we went. At 13.75 we had an holp signal so exited, +1 (1 car). Started talking with teq about reversing at this signal during choppy markets. we may be on to something.
Another holp long hit @ 1313.50 & we rode it up with the stop trailing. Exited with stop @ 14.25, +.75
The bonds finally worked reasonably well today. Shorted @ 10615, took a pp @ 13, didn't get the reload & runner target hit @ 11 for +6 tick total.
Also during the doldrums the 5 min sq fired off so I took a paper long @ 12:45 at 1316.75. After some time of little movement, the histogram started to fade & I exited @ 17.25 for +.5 point. the 5 min sq ended not long after pretty much at the same place as my exit.
We had one more lohp short @ 1317.25 that worked in our direction down to a 16.50 stop out for another +.75.
The last trade was the 3:52 trade which I took short after a nice run up to 1318. THe trade looked promising at first but basically just choped around & I was timed out @ b/e
Totals: Paper +4; Real $$ -3 es points & +6 bond ticks for a b/e $$ day.
Next was an lohp sell@ 1313 at 9:53. THis was a mismanaged trade on my behalf because we dropped a full point & I failed to lower stop (only 1 car). the mkt chopped around a bit & I was very sure we were going to drop because the internals looked weak. But, as before, the 12.50 area held & soon it reversed direction & took out my stop @ 15.25 (had moved it up a notch) for -2.25 points. I also missed a warning sign, an holp signal that should have gotten me out at that point. Teq started experimenting with trailing stops as per ttm, & we started to use the 2nd prior candle +3 ticks.
Next entered a paper short @1314.75, & moved stops down as we went. At 13.75 we had an holp signal so exited, +1 (1 car). Started talking with teq about reversing at this signal during choppy markets. we may be on to something.
Another holp long hit @ 1313.50 & we rode it up with the stop trailing. Exited with stop @ 14.25, +.75
The bonds finally worked reasonably well today. Shorted @ 10615, took a pp @ 13, didn't get the reload & runner target hit @ 11 for +6 tick total.
Also during the doldrums the 5 min sq fired off so I took a paper long @ 12:45 at 1316.75. After some time of little movement, the histogram started to fade & I exited @ 17.25 for +.5 point. the 5 min sq ended not long after pretty much at the same place as my exit.
We had one more lohp short @ 1317.25 that worked in our direction down to a 16.50 stop out for another +.75.
The last trade was the 3:52 trade which I took short after a nice run up to 1318. THe trade looked promising at first but basically just choped around & I was timed out @ b/e
Totals: Paper +4; Real $$ -3 es points & +6 bond ticks for a b/e $$ day.
Monday, 5/1 First Day of May
Monday started actually on Sunday Night. We had closed out the day friday with the p/c above 1 so I felt sure we would see some erosion over night. I shorted the es @ 1318.25, put in a 2 point stop & hit the hay. Upon rising Monday morning, there had not been much movement so I exited with +.5 points.
No bond trade again as the bonds were unusally quiet during the doldrums.
Did a paper trade off an lohp signal @ 2:08 @ 18.75, yes only paper. es droped like a stone to around the 11 area & my stop was finally hit @ 13.75 for a 5 point winner. Dang, I needed that one for my account too!
Lastly, I did a paper trade on the 3:52 setup @ 1310.25 because the last 1/2 hour move up had retraced about 50%. This is a good thing to note because the trade went against me (I went long), & I was stopped out @ 8.25 for -2 points.
Totals: Paper net +3; real $$ +.5.
No bond trade again as the bonds were unusally quiet during the doldrums.
Did a paper trade off an lohp signal @ 2:08 @ 18.75, yes only paper. es droped like a stone to around the 11 area & my stop was finally hit @ 13.75 for a 5 point winner. Dang, I needed that one for my account too!
Lastly, I did a paper trade on the 3:52 setup @ 1310.25 because the last 1/2 hour move up had retraced about 50%. This is a good thing to note because the trade went against me (I went long), & I was stopped out @ 8.25 for -2 points.
Totals: Paper net +3; real $$ +.5.
Friday 4/28, Week ends with a Bang!
OK, have some catching up to do. Friday was not a bad day, but, oooh baby, it could have been a lot better! First trade of the day was a Globex long @ 1311.50. sigs were pointing up but ended up getting stopped out @ b/e. Then I had a long signal @ 1312.75 near the open (holp) and....and...I hesitated, didn't take it & didn't it run balls to the wall right up for a 7-8 point winner!!! OK, lesson learned again (10000th time). Take the frickin' holp/lohp signal & GO WITH IT. ahem, there, got that out of my system.
Next trade was an lohp sell @ 1319, went down to 1316, trailed the stop & exited @ 17 for 1 point winner.
The bonds were trapped in a tight range between 107 16 & 107 24 and entry did not fill. No bond trade today.
The last trade of the day was an holp long @ 15.25 around 3:26. Now I know what my trading plan says about entering new trades after 3:00. But, well, I felt good about the signal & went after it. The trade really didn't go too far & 3:52 was fast approaching. I analyzed the situation & decided to keep the trade right where it was. This is the last trading day of April & I had a similar trade on the last day of March that scored nicely. So, sure enought the es started climing after the cash market closed. I raised my stop to 14.24 along with it & exited at 17.25 as time expired for a respectable 2 point winner.
Totals on the day: 3 es points Real $$$.....not too bad, but coulda, shoulda, woulda been much better!
Next trade was an lohp sell @ 1319, went down to 1316, trailed the stop & exited @ 17 for 1 point winner.
The bonds were trapped in a tight range between 107 16 & 107 24 and entry did not fill. No bond trade today.
The last trade of the day was an holp long @ 15.25 around 3:26. Now I know what my trading plan says about entering new trades after 3:00. But, well, I felt good about the signal & went after it. The trade really didn't go too far & 3:52 was fast approaching. I analyzed the situation & decided to keep the trade right where it was. This is the last trading day of April & I had a similar trade on the last day of March that scored nicely. So, sure enought the es started climing after the cash market closed. I raised my stop to 14.24 along with it & exited at 17.25 as time expired for a respectable 2 point winner.
Totals on the day: 3 es points Real $$$.....not too bad, but coulda, shoulda, woulda been much better!
Thursday, April 27, 2006
Wed. 4/26 & Thurs. 4/27...FINALLY some GREEN!!!
Ok, for any one who might have possible stumbled on this insignficant speck of a blog in the universe of the internet and wondered if I was ever going to make any dough, well, it finally happened!
Wednesday was a very nasty trading day in the es. Had a very tight range and none of my signals worked well. Most of the time when an holp/lohp would trigger the market would move too fast & not come back to my entry. Had one b/e lohp paper trade in the morning, short @ 1312.50, pp @ 11.50, then stopped out at the b/e of 13.50.
Did have a paper long holp @ 1308.75 @ 3:56, pp @ 9.75 @ 3:42, then stopped out @ 8.75 for a +2 gainer. Also did the 3:52 reverse that timed out for a measly +.5. Total paper trade was +2.5 which was not bad considering the market action.
Thursday started out so-so. Was watching the globex early & waited a little too long to react to the long signals I saw on the 3 & 5 min charts. Finally put in an order to buy @ 1303.75 & got long @8:00. Left for the office & was still in that area when I got setup there, only to be stopped out a few minutes later @ 1.75 for a 2 pt loss. Kept watching tho as I thought we might see a gap close today being thursday (82% success) & nearly a 6 point gap to close. Got long on a perfect holp setup @ 1301.50 & then watched as es finally worked in my favor & ran all the way up to the gap close & beyond. I tightened my stop & was taken out @ 9.50 for a +8 point score....YEEAAAAHHHS!!!!!
Bonds were also working better as I entered long @ 106 25, pp @ 27 & out the runner @ 29. No oporunity to reload today but happy anyway...+6 ticks.
Had another holp buy @ 1315.25 @ 2:35 and exited as the mkt came back to my elevated stop out 2 17.25 for a 2 pt gainer.
The last trade of the day was an attempt at the 3:52 trade. Th mkt had sold off over the last 1/2 hour so I went long @ 1315.75. After some girations, went as high as 16.75 briefly, then came back & took me out at my elevated stop @ 14.50 (musthave put in the wrong #?). So, all in all a very good day, +8.25 points on the es & 6 ticks on the bonds. Sweet!
Wednesday was a very nasty trading day in the es. Had a very tight range and none of my signals worked well. Most of the time when an holp/lohp would trigger the market would move too fast & not come back to my entry. Had one b/e lohp paper trade in the morning, short @ 1312.50, pp @ 11.50, then stopped out at the b/e of 13.50.
Did have a paper long holp @ 1308.75 @ 3:56, pp @ 9.75 @ 3:42, then stopped out @ 8.75 for a +2 gainer. Also did the 3:52 reverse that timed out for a measly +.5. Total paper trade was +2.5 which was not bad considering the market action.
Thursday started out so-so. Was watching the globex early & waited a little too long to react to the long signals I saw on the 3 & 5 min charts. Finally put in an order to buy @ 1303.75 & got long @8:00. Left for the office & was still in that area when I got setup there, only to be stopped out a few minutes later @ 1.75 for a 2 pt loss. Kept watching tho as I thought we might see a gap close today being thursday (82% success) & nearly a 6 point gap to close. Got long on a perfect holp setup @ 1301.50 & then watched as es finally worked in my favor & ran all the way up to the gap close & beyond. I tightened my stop & was taken out @ 9.50 for a +8 point score....YEEAAAAHHHS!!!!!
Bonds were also working better as I entered long @ 106 25, pp @ 27 & out the runner @ 29. No oporunity to reload today but happy anyway...+6 ticks.
Had another holp buy @ 1315.25 @ 2:35 and exited as the mkt came back to my elevated stop out 2 17.25 for a 2 pt gainer.
The last trade of the day was an attempt at the 3:52 trade. Th mkt had sold off over the last 1/2 hour so I went long @ 1315.75. After some girations, went as high as 16.75 briefly, then came back & took me out at my elevated stop @ 14.50 (musthave put in the wrong #?). So, all in all a very good day, +8.25 points on the es & 6 ticks on the bonds. Sweet!
Tuesday, April 25, 2006
Monday 4/24 & Tuesday 4/25
Monday was the first day after options expiration and was quite weird in the es. The put/call fluctuated and was not reliable still. Took me a while to realize this, after I heard a faint voice (teq) in my head warning me last week before he left on vacation to watch out for this very thing on Thursday through Monday! Paper trades were 3 breakevens, a + 2 and a -4. All were holp/lohp trades except for 1 5 minute squeeze. The market just was not conducive to trading today. The bonds did work, however, and the new system worked to some extent. I entered short @ 107 31, pp @29 for +2 ticks, reloaded 1 car @ 31, pp'd again @ 29, then exited the runner at the full +4 tick target. The net on this trade is the same as if I had just left the 2 cars run to the full 4 ticks. However, after the last 2 weeks I wanted to work my new system to lock in as much as possible. I am considering trading with 3 contracts, and taking 2 off at 2 tick intervals, reloading them if possible and letting the runner go to the full profit target. Will have to noodle this scenario through a bit more. So the totals for Monday were +8 ticks real $$ in bonds and -2 points in the es.
Tuesday I was not able to trade from 8am on but was lucky enough to catch a globex trade from Fooser, long from 1314.25. I had just gotten up & fired up Tradestation at a few minutes after 5 when I noticed Fooser's call. My indicators on the 3 & 5 min charts were just starting to indicate a long so I jumped in with him. It took a while as globex trades tend to do but all of the indicators were pointing up & we rode it up to 16.00 before being stopped out for a 1 .75 winner. Not a lot but I will take it, especially after last week. After reviewing the charts it appears that the bond trade would have worked nicely & quite possible would have been a repeat of Monday, 1 pp, a reload, a second pp & then the exit at the full 4 tick target. Oh well, we'll look to make some green with it tomorrow. The charts on the es did not indicate much opportunity for profitable trading with t he exception of 1 possible holp trade in the afternoon for 4 points.
Tuesday I was not able to trade from 8am on but was lucky enough to catch a globex trade from Fooser, long from 1314.25. I had just gotten up & fired up Tradestation at a few minutes after 5 when I noticed Fooser's call. My indicators on the 3 & 5 min charts were just starting to indicate a long so I jumped in with him. It took a while as globex trades tend to do but all of the indicators were pointing up & we rode it up to 16.00 before being stopped out for a 1 .75 winner. Not a lot but I will take it, especially after last week. After reviewing the charts it appears that the bond trade would have worked nicely & quite possible would have been a repeat of Monday, 1 pp, a reload, a second pp & then the exit at the full 4 tick target. Oh well, we'll look to make some green with it tomorrow. The charts on the es did not indicate much opportunity for profitable trading with t he exception of 1 possible holp trade in the afternoon for 4 points.
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
