Reverse position in US bonds. Stopped out of my short at 117'16. Initiated a new long position at 117'24. Bonds are in an uptrend from the 116'16 lows since Friday.
I am still short 1/2 a position. Looking to exit here around 117 USU. What made you go long spreadem?
ok, closed out my short position. Now long from 116'30. Stop at below Fridays low 116'05. Target 117'24
Honestly, I just got caught looking at the money. Watching my profits erode got the best of me. I had been expecting the market to run up to the 118 level (neckline), so I got long for a couple of minutes (points). My long trade was a based on a discretionary breakout up signal. After catching a couple of points in the sept bonds on the long side, I'll sit back and watch. We're in no man's land between 116'24 and 118. I can't tell what the market's doing until it goes below 116'24 or above 118.
You're defeating the purpose of trading the Bonds. When they finally decide to change directions they tend to stay decided. Plus, it always helps to hide your P/L blotter from yourself during the trading day. Regards, Dr. Zhivodka
You showed your hand today spreadem. You watched the USU rally 1 1/2 points from its Friday low and then you reversed your position at the top. Today the S & P's went to 1/2 way back at 962.60 and the Eurodollars met their 1/2 way backs. You are supposed to be going short for a quick scalp. Instead you have been scalped. That is a true ROOKIE MISTAKE. This game is about doing your homework. MAKING THE MONEY IS THE EASY PART. KEEPING IT IS THE GAME.
Dr. Zhivodka, There is a lot of wisdom in that statement. I kept a Journal for a while and one on things I noticed , I spend about 1/2 my time looking at the P/L. The eyes just find their way to that corner of the screen. I think I need to muster enough courage to hide that section.
Point man, I think you miss the 'point' of this Bond thread. Unlike you who is trying to market his powerpoint website, I don't believe most members post their trades to compete against each other, our goal is to share and support each other in this difficult business of trading. Thanks