[Mr_black]

4 points net..............

[Robert Joyce]

Ok, As I would never start real trading on a Friday, sim trades again today but for 180pts on the YM. All 2 contract YM trades but there were about 30 trades for $905. profit. 10 even trades, 4 stopped out for full 21pt, the rest were real nice winners. I tried very hard this week to cut my losers and ride my winners and when I had a good buy at an extreme like that low this morning I removed my limits and just let it run. Also these more range bound days are great for my EMA crossover signals. So I'm pumped for Monday to start with real money again.

The other thing I did was the later in the day it got the sooner after I was winning a trade I moved my stop up to even to protect the money I had, so there were unfortunately too many trades at or very near even, but that is a small price to pay for protecting profits. Next week I report real trades all week long.

Anyways you have a good weekend, I've got my son's soccer games to look forward to, we'll see you on Monday.

[brownsfan019]

6-5-09






And for the boneheaded play of the day:



I was short on bonds into the AM news (as I was long EC at same time). Both trades were gorgeous - instant +$300/ct. See a difference in the end result?



EC trade nice and easy winner.

ZB trade - somehow I butchered that into a loss... I got in and the trade was stuttering as everyone was waiting for the 830am news. I saw a small profit at one point and grabbed it. Trade then gave me a 2nd chance to short before the news. I took it, but this time I was going to be smart and put a snug stop on....

Meanwhile I was comfortable letting my EC trade just go.

Really dropped the ball here, should have just been 2 trades for +300/ea trade vs what I created there.

Live and learn.

Always doing the 'learn' part though w/ trading...

[MCM]

Much like Maverick said to Goose, after being implored to "Take the shot"...it just didnt feel right. Revenge trading (from the past couple weeks of destruction) is an invitation to disaster.

Did some watching of the market this week - with very little trading. If anything - it helped my discipline. Avoided making those "jump in - the market is moving trades". Perhaps it was fatigue - perhaps it was crazy work schedule - or just maybe - I am becoming a bit more diligent to sticking with my plan.

Missed two entries by a little - which would have been nice trades. But thats life. No chasing cars.

Will be in front of the screen for a limited time the next two weeks - happily because of vacation. Will try to keep active via some pre-set swing trades.

Good weekend to all. Not much else to post. Like the idea of posting charts - will include that in my future posts as well.

[thalestrader]

Hi Folks,

Here are today's results: Three trades, two stocks. Short PSA for +19 pennies/share, long BCS for + 15 pennies/share, and then long BCS again for -10 pennies/share. Total for the day +$0.24/share traded, and for the week +$2.49/share traded.

Best Wishes,

Thales

[bathrobe]

Hi Brownsfan,

Do you take trades regularly based on how what you think the news will be?

Personally and I do not claim to be even somewhat good at interpreting how news will effect markets trades like this can be a lot like gambling for a day-trader. I usually sit out news, speeches and fed announcements.

[brownsfan019]

Originally Posted by bathrobe »

Hi Brownsfan,

Do you take trades regularly based on how what you think the news will be?

Personally and I do not claim to be even somewhat good at interpreting how news will effect markets trades like this can be a lot like gambling for a day-trader. I usually sit out news, speeches and fed announcements.

Great question BR. Here's how I treat news - on most markets, I LOVE it! And you can see why in the above charts I posted.

Basically I just take my setups as they occur, regardless of news on all markets EXCEPT oil. I have to stay out of oil trades on Wed inventory numbers b/c that is way too jumpy for my liking.

But on the indexes, bonds and currencies, I will get into a trade and hold through the news if I get a setup beforehand. If there is not a setup, then I just wait. In other words, I don't try to guess where the news might drive the markets (I'm not a fundamental trader at all).

With that said, trading news is not for the faint of heart. If you want to see your P/L jump hundreds/thousands in seconds, then give news a try on SIMULATION.

I can't stress enough that I only take a trade when my normal setup occurs and that I don't trade oil on inventory day.

[ochie]

bf,

Like oil on inventory, wouldn't you add bonds on payroll Friday? I've seen 1/2 point blasts or tanks in seconds in the past. jmho