Sauteed in butter and a drop of olive oil afterwards, that was a nice round trip in ZB! I hate trading next to the stove, I got flour on the keyboard. el surdo
well Richard, you sold right above a major technical indicator. 113.19 was a 61% fib retracement on a daily chart (of the whole move) it seems you stepped in front of a train. I have a short time frame and would not take any heat like that unless I wanted to blow my account out. The recent high was 116.24 that is 94 tics of heat.
trading ZB.... i have march calls, strike 119 short futures as it moves up, take profit as it moves down, leave the calls open as protection, if it busts a move past 119, the calls are larger in number than the open futures, so I will break even, if it goes WAY higher (like 125+) will also make a lot of money. Entry short every 50c, take profit every $2 thats what im doing at least. already made quite a nice bit from last move to 119 (the move that went STRAIGHT UP SURDO) and then the subsequent fall please let it range trade from 114 to 119 until march. I'll be a bond pimp by then!
I don't trade based on indicators. They are of absolutely no value in my opinion. I am in my trade until at least Jan 10 and maybe longer so to me days like today are just noise. Christmas noise anyway. Not that I enjoy losing money mind you. This is the first short trade I have taken since May. Days like today should tell us something about the conviction of traders in the bond market. I may be wrong, but I think we are headed south for a spell.
113 '29 was a major "reversal" signal on my crystal ball system last Fri. Happy Trading to all! el surdo samba trader PS: that was nice *noise* today from 116 '20 to 116.
well took more profit today but im almost unloaded, only 2 contracts left please let this thing go back up to 118 so i can short it again pretty please I'm hoping that dive from 119 was too sudden and we need to go back up and test for a double top
Nice trade! I am not getting much of a warm and fuzzy feeling being long just yet. I will take a closer look tonight. 113 '11 is an important level to hold. el surdo