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March 1, 2012
CL trade
Sold 109.94 Closed 109.87
I was slow off the mark on this trade and entered too late.
However, I wanted to get in the trade before the end of RTH
Here is a short video of the trade:
Improvements for future on't hesitate - too late = poor entry (cost 1 pt)
Good things: didn't take any heat after entry - all green.
Sld 2 at 1347.25 10:00:28
2pts *100 = $200
10:44 The Rider
One left - video shows potential retracement calc with time (Simple ABCD equal legs) -this estimation didn't work out.
Sld 1 at 1351.50 10:55:12
6.5 pts * 50 = $312.50
12:56 Waiting for Godot
Our estimate for the range was 9.50 in the morning. So far we have had L1344.25 and high 1325.50 or 8.25pts. This is within the range of error estimate (1.50) for the RTH daily range, meaning the high may be inplace. Therefore there would be no need for them to run it up further. This means the risk of error has increase and the pts profit potential would be small for the remainder of the day.
------
14:57 Trade 2 A little quick trade at the end of the day.
Sld 1 1352.75 at 14:55
Sld 1 1352.00 at 14:59
Bot 2 1351.50 at 15:07
1.75 * 50 =$87.5
0.50 * 50 =$25.0
Trade 2= $112.50
Conclusion:
It felt a lot more comfortable trading the ES. I am so used to it and all that it is easier to read.
10:45 -11:00
Endless computer prbs. Windows 7 auto-update and Ninja7 stopped working (being able to load data).
Restore to prior day and re-installed Jing and then finally found the setting to stop Jing from reducing mic volume to inaudible!! Argh!! No wonder people buy apple!
In any case, big move up in o/n session so no need for them to take out high stops - been there done that. And as normal in a big o/n upmove you get "ok were way up here - now what?" day. So the market churns around searching for a direction.
I wasn't online and charts going til 10:30 (that is 2.5 hrs after turning it on - thank-you Mr.Bill!)
So open 1360.25 down to 1357.50 double bottom (minus 2.75 to open), up to 1363.25 @ 10:52 (+5.75).
If the 3d ma of rng =10 is subtracted from 1363.25 we get 1353.25. On this rather flimsy reasoning (flimsy because we'll probably only get 8pts) I'm selling.
Trade 2 video of entry
Sld 3 1363.25 at 11:00:38
Order for 2 more at 1364.75
Sld 3 1363.25 at 11:00:38
Order for 2 more at 1364.75
Filled 11:45:38
Average on 5 1363.85
At this time I'm thinking that perhaps it will be a Long T-top day. We have a high of 1365.50 from a FE (first end) = LE (low end) of 1357.50 at 9:12 and 9:20 giving 8 pts. With a big move in o/n the range is often smaller so 10pts initial expectation (the 3day ma) to 8pts is about right. If so I need to work myself out of this trade.
on't hesitate - too late = poor entry (cost 1 pt)
