Not a good trading day for me. I should have realized after my first trade that the market this morning was going to be messy. I dropped 10 pts on the first trade. On the 2nd, it didn't start to pick up so I bailed for 0 pts before the crude inventories number came out. Then in my 3rd trade I bailed for -3 as again the trade was not working. So summary: -10, 0, -3 = -13 for day. We need some big news to create some volatility to trade!
Hey snowman. I just found your journal. I think its great. Thanks for putting it all out there for us. I do the same thing in the S&P looking for just 1 point per day. (Same as 10 dow points). I've looked back through your posts and saw you have a 100 pt/month goal. Do you trade 5 days a week?
yeah, i try to trade everyday unless its a local holiday or something comes up and I can't trade. My target is 80-100 pts a month which I think is attainable. I'm getting more and more comfident day by day. Plus trading only 1 contract keeps my loses small while I'm still developing my methodology. Since you do something similar, please feel free to post a chart.
Week not turning out so great. took a -10 on the short of the first pullback. I guess the only clue was that there were 5 consecutive up bars before my entry. Taking note of that for future trades.
Since the short didn't work, I decided to give a long a shot. got in at 10534 with 10544 tgt. The fxxxing market went to my target twice but didn't take my contract. ARHHHHHHHHHHHHHH. So as time was passing by I decided to exit at 40 for +6. Of course then the market moved up to may target and past it. I'm fumming! This market is just a pain in the ass the last few days. I think I should stop trading this until I see some real action. So the day went: -10, +6 = -4.
why are you trading for 0.10% on the dow? Spread is 2 ticks in/out Commish is 1 tick Why trade for 0.07% ?
commission is 1 tick. Spread is 0-1 tick as I exit at limit order always and sometimes enter at limit. considering the narrow range the YM has been trading at even 10 pts is alot to make. I am open to hear your ideas about how you trade the YM. Please post charts and trades thank you for your concern. I'm always open to suggestions.