8/24/07 General Trade Log / Idea Sharing

[AbeSmith 10]

Hello. Dow is currently flat in premarket, rising after positive Durable Goods Orders report. New Home Sales report is due at 10ET. Europe is mixed with no huge ups or downs. Asia and Pacific markets are mixed: China, India, and Indonesia up, others down. Good trading.

[btrader2 10]

Hi Abe,

 

Flat is the word. Market in value, needs to make a decision one way or the other.

[AbeSmith 10]

Setup 1: +6. +6.

[AbeSmith 10]

Setup 2: -10.

[AbeSmith 10]

Setup 3: +6. +16.

[AbeSmith 10]

Setup 4: +15.

[AbeSmith 10]

My trading summary today:

 

4 setups. 6 roundtrips. 39 net points. $169.44 realized paper loss.

[AbeSmith 10]

My trading summary today:

 

4 setups. 6 roundtrips. 39 net points. $169.44 realized paper loss.

 

$169.44 realized paper gain.

[MrPaul 10]

Nice work today Abe. What have you discovered thus far about using multiple contracts and scaling?

[AbeSmith 10]

Nice work today Abe. What have you discovered thus far about using multiple contracts and scaling?

 

Hello Paul. I like multiple contracts and scaling. It's a good feeling to scale out after some gains to make it a free trade. The potential loss from multiple contracts is worriesome. But I imagine the more experienced I become and the better I get at finding high probability setups with good entries the more multipe setups will become a valuable part of my trading.