lurkerlurker
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Covered 95. -10. +40 net for the day. I'm finished.
firewalker99
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no, stop still at it's original position...
I had 22 for the taking there a minute ago :|
lurkerlurker
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lurkerlurker
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Well I moved mine when I realised it was wrong. Silly trade really. At least I got out with an adverse movement of a mere 5 pips on both contracts. +40 for a paper trading day is still pretty nice.
I'm confident that the YM won't break 700 for very long, but we could see a rally to 720 before the reversal comes in. I'm not prepared to take 30/40 risk points. I would consider shorting it on the way down, but my daily target is 30 pips and I have a rule to stop when I lose a trade after my target is hit.
Final score:
Instrument: YMU7 (paper)
Trades: 3
Wins: 2
Losses: 1
Win %: 66%
Average Win: 25
Average Loss: 10
Win:Loss: 2.5:1
Net: +40 pips
Target*: +30 pips
*The target is a figure set for MM purposes. Exit on first losing trade after target is hit, etc. I'm quite prepared to take less from the market, and don't expect 30 per day. It is an indication of where I can relax and take the day off. Pips in excess of 30 can be used for more adventurous trades. Daily loss target is also 30.
firewalker99
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yip, everything still as we were
stop was 10 points away and target 25-30
time is running out!
lurkerlurker
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We have a lower high now. Tick is failing to break 1000 or otherwise show a bullish divergence. There seems to be increasing volume on the down bars, the 15 min shows a bearish engulfing and a gravestone doji. I think a break of 85 would invalidate the reasons for going long. I'm not going to short at this point, but if I were lucky enough to be long from such a good price as 85 I'd consider a BE stop at minimum, as there is no support near 85 and if that breaks it will shatter 80 without too much problem.
Of course, you need to decide for yourself, and I hope you can follow your own rules when it comes to this trade. I should have kept my short (this was another nervous exit). Where it not for my rule of quitting after a losing trade above my target....
firewalker99
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ok I exited with +10. Too close to the close now. I like to be out of any trade at least 30 minutes before the close. That's just breakeven for the day! Looks like I'm losing my touch there
lurkerlurker
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ok I exited with +10. Too close to the close now. I like to be out of any trade at least 30 minutes before the close. That's just breakeven for the day! Looks like I'm losing my touch there
You're not losing your touch. Well done getting out before the close. Breakeven is better than a loss, and there will be more entries and (profitable) exits tomorrow.
Can I ask what your entry on that trade was?
firewalker99
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Like your rules say don't trade before the open or close to the open, mine dictate no trades in last 30 minutes. I had hoped to pick some points today, the best bet obviously was to go long straight at the open. The DAX again showed the way imo. I'm off for the day. Feeling bit strange about the market action. I think some surprises are coming our way soon.
lurkerlurker
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Maybe I should follow my own rules sometime
Just perhaps I should have more confidence in my trades. A higher high was not made (704/705 - 1 tick doesn't count). Then a lower high was made. I shouldn't have wussed out at -5.
Just perhaps I should have more confidence in my trades. A higher high was not made (704/705 - 1 tick doesn't count). Then a lower high was made. I shouldn't have wussed out at -5.
Dinos
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Lurker, I mentioned the stoch trading,it broke down from approx 90 about 3.20 US time price 13577, and now 4.00 US time approx 5, price 13550. would have worked a treat. I'll post a chart to show
And now looks like reversing, MACD histo pos div, RSI o/s
Had I traded, would have got my daily 20 points
Goodnight
And now looks like reversing, MACD histo pos div, RSI o/s
Had I traded, would have got my daily 20 points
Goodnight
Last edited:
Atilla
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Wow b/e and possibly +1 pip from last miserable short trade. See how low this can go?
Moving SL from mega highs to more reasonable...SL @ 13565.
firewalker99
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You definitely called them right today. Well done. Good to see you make progress. It might only be papertrading, but for sure today should give you a confidence boost!
My entry at 13685 was price based: first you see the long sideways action where none of the bars manage to close above that level. Then you have higher volume and a potential break higher, but again 13700 holds things down. Then we retrace and then the obvious pullback re-entry at 13685. Unfortunately we went only to 13707. Note to myself there... the +20 target was more then greedy enough! And I'm always to strict & rigid about my own rules
I got drawn away but the fact that it I was hoping that it breaked clear of 13700.
lurkerlurker
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Yes, I feel there there is some strange behaviour afoot. I don't have the experience of reading the market that most do here, but is the shenanigans recently just the result of T-bond yields, or is somebody accumulating a huge net position in either the Dow, S&P, or a large cap Dow constituent? Odd indeed.
I'd like to trade the Dax in the mornings. 2 point spread at TradIndex now (used to be 3), so the higher volatility and less skewing towards banks and chemicals makes it more attractive than the FTSE. One thing at a time though....
lurkerlurker
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It has. Thanks. If you note my entries and exits, you can see I'm obeying the strategy I posted on my journal yesterday. First short entry was on RSI / tick divs for example. I'm reading price and volume, and only used RSI for one entry (which was a pretty clear entry anyway). My target setting is based on PV / S&R. I feel much more confident that I can read the market. it has confirmed my problems are psychological which is something I need to work on. I will continue to paper trade, and do some backtesting on the days I have simulator replay data for.
My entry at 13685 was price based: first you see the long sideways action where none of the bars manage to close above that level. Then you have higher volume and a potential break higher, but again 13700 holds things down. Then we retrace and then the obvious pullback re-entry at 13685. Unfortunately we went only to 13707. Note to myself there... the +20 target was more then greedy enough! And I'm always to strict & rigid about my own rules
A good trade certainly. Perhaps the only flaw was the target. Your entry was particularly impressive. If I had been long there, I would have expected a clearer break of 700. However, $tick showed me not to be long, in which case I was a little skeptical of a true break up just so soon. Do you use NYSE $Tick or any other short term sentiment indicator?
Atilla
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Are you going to let us have a preview of the surprises and what you are thinking. Now that you opened the lid we'll be pondering away and it's not good to ponder imo.
Are you going to let us have a preview of the surprises and what you are thinking. Now that you opened the lid we'll be pondering away and it's not good to ponder imo.
Yes please FW....I wont be able to sleep tonight now
