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TinGull

7/31/07 General Trade Log/Discussion

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So far this morning I've taken like 15 trades premarket and am currently down a net 483 YM points!! YAY! Just kidding. I actually just woke up so I've got to get ready and take my morning walk. Just wanted to start the thread.

 

Good trading everyone!

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Hello. A good morning to everyone. I have just woken up and drinking a cup of tea and getting ready for a wonderful day of work. Markets seem to be up. Good luck everyone.

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Good Morning everyone...

 

Just noticed this thread and find it very nice to have something similar to the chatroom. I hope i can participate a while trading.

 

Nice trading ;-)

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Hello. The spike at 10:00ET coincides with the consumer confidence report.

 

Right. The good old 10 AM news spike. Got to be careful for those. Market couldn't go higher. Now we have a range. I'm looking for breaks above 13545 or below13480. All else is noise to me on YM.

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Got one trade so far....

Shorted after the YM came back into its Opening Range and covered half for +12 and half for +22 (are my mechanical targets). Now watching if price could hold at the 13490 area.

5aa70de9cd469_Trades31_07.200702.png.c48313ddfb6f23bac2a6d53cf129ed18.png

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9:22CT. Seeing lower low, and possible head and shoulder. Looking for short. Shorted at 9:22CT at 13493 on market order. Stopped out at 13501 at 9:24CT. -8 points. Not a good place to short IMO because of that 13490 pivot point just bellow, or rather, not a good place to short with a tight stop due to the resistance of the pivot point being so close. Also, very poor entry. This was a spur of the moment trade that should not have happened without better planning.

7-31-07T1.thumb.jpg.e56b10ece5a2ee1601105f31edc0051b.jpg

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Got one trade so far....

Shorted after the YM came back into its Opening Range and covered half for +12 and half for +22 (are my mechanical targets). Now watching if price could hold at the 13490 area.

 

nosast, that's my trade!!!! HAHAHAHA! I, as well, shorted at 524 as it came back into it's 30min OR and covered at 494 for +30 on it.

 

Nicely done guys.

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Abe,

 

the short you took was right at the support line at 13490 so it was very risky... Its almost better to wait for a signal than to anticipate it. You could have taken the short at the same level but after the support was penetrated about 10 minutes later with much higher odds of winning. But i know how hard it is to wait for your signals and getting into the market when you could have got in a few points ago... Made the same mistakes over and over again when i began trading futures... :cry:

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Abe,

 

the short you took was right at the support line at 13490 so it was very risky... Its almost better to wait for a signal than to anticipate it. You could have taken the short at the same level but after the support was penetrated about 10 minutes later with much higher odds of winning. But i know how hard it is to wait for your signals and getting into the market when you could have got in a few points ago... Made the same mistakes over and over again when i began trading futures... :cry:

 

You're right Nosast. Thanks.

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I got tossed around like a 2 dollar hooker before the 10am news. :cry:

 

Short now from 92.5 and still holding. I at least made back the other losses and now holding....

 

Hey Brownsfan. Nice to see you today. Nicely done by the way.

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Covered that short at 83.25 for +9.25.

 

Wow, that was a fun ride. And a much needed one. I was all over the place going into the 10am news - 5 trades for -7.75.

 

Not pretty, but we are up so far for the day.

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Nice trade Brownsfan...

Are you still holding?? Do you trail your profits or exit on a buy-signal?

 

Currently holding all trades until a reversal signal confirms, based on the volatility that we have.

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Saw the same reversal in the YM but didn't take it because i thougt it is too risky. Would like to see the Gapclose in the YM before looking for long.

Hmmm... the ES and all other markets already closed the Gap.

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