9:45 Begin S1 992.50 994.25 -1.75 (9:50) Sell short rocket - stopped out. 10:15 Quit I'm unlikely to be trading much for the next 2 weeks - perhaps not at all. On holiday next week & lots of tasks to be completed before then. Summary: Day: - RT: 1 (0 winner, 1 losers, 0 scratch) - PL: -1.75 Month: - RT: 27 (17 winner, 13 losers, 2 scratch) - PL: -5.75
9:50 Begin 10:00 Wow! B1 991.25 993.75 +2.50 (10:27) (10:34) Buy b.o. up from congestion. Sell @ HoD res (ignoring spike). [hindsight: lots of money left on table] B1 992.50 992.75 +0.25 (10:33) (10:33) This was an order entry error. I intended to put a sell limit to exit previous trade & entred a buy instead. Fortunately able to exit immediately for no loss. For a few seconds here I was long 2 lots - perhaps I need to change my name. 10:42 Now indicators are saying long rocket - but approaching round no. res (1000) so do nothing. 11:29 Rocket coming to an end now. If I'd entered @10:42, I'd have had the opportunity to take a further 3-4 pts. Perhaps it's better to enter all of these automatically & then be prepared to exit quickly if nec'y. 11:30 Quit 15:35 Returned Looks like I just missed a great move. S1 988.75 988.00 +0.75 (15:55) Sell break of little pennant. Cover quickly because I don't trust this so close to mkt close. [hindsight: good decision to exit] 16:00 Quit Summary: Day: - RT: 3 (3 winner, 0 losers, 0 scratch) - PL: +3.50 Month: - RT: 30 (20 winner, 13 losers, 2 scratch) - PL: -2.25 Something wrong with stats here (RT<winners+losers+scartch) - I will check this later.
9:40 Begin Rocket signal on open - do nothing. 9:45 Break of low - which I missed. 9:47 Price very eratic with DOME looking thin & gappy - do nothing. 10:00 There goes that gappy DOME again. Mkt a bit scarey today - looks like it wouldn't take much to launch one of those sudden spikes we've seen recently. B1 982.25 979.00 -3.25 (11:18) Buy b.o. up of double bot. Late with the entry and late with the stop. S1 978.50 980.00 -1.50 (11:38) (11:45) Sel b.o. of flag - stopped out. Postmorten trade 1: - entry bar red - bar after that extended the move against me (now past my stop) - now comes a little 2 bar retracement - low vol here suggests that it won't continue - I could have bailed here @908.00 - bearing in mind time of day b.o should have been entered with extreme caution in first place Postmortem trade 2: - trade coincided with bullish div on TICK - should not have taken this trade 12:15 Quit 14:10 Return Beautiful flag developing on 10 minute chart. S1 979.50 978.75 +0.75 (14:13) (15:55) Sell break of big flag. Departing from my stated plan at start of journal and. trading 10min chart rather than 3 - so will allow bigger stop for potential bigger profit. Held through 3.25 drawdown (14:48) while acc/dis supported the downward move. Trade moved into profit of 2.25 before reversing. Eventually took smaller profit when price moved up on stronger volume. [hindsight: should have taken +2 profit when it was there, as approaching end of day didn't leave scope for the kind of profit anticipated at start of trade. Gap down open on Monday?] 16:00 Quit Summary: Day: - RT: 3 (1 winner, 2 losers, 0 scratch) - PL: -4.00 Month: - RT: 3 (1 winner, 2 losers, 0 scratch) - PL: -4.00
14:10 Begin B1 987.25 983.50 -3.75 (14:37) (15:06) Buy b.o. from congestion. Failed to pull trigger on my 2.25 pt stop - the words rabbit & headlight come to mind. This is starting to become a habit. [hindsight: should have exited for +/- a tick on lack of volume - chart shows lots of time for cheap exit. Failing that should have triggered stop as planned] S1 983.25 980.00 +3.25 (15:06) (15:36) Sell b.o. (down) from cong. (reversal of previous trade). This turned into a rocket. Exited on fib resistance, even though stocs signal still holding. [hindsight: near perfect exit] 15:45 Quit I wonder if a time stop might help with trades like #1? - e.g. if bo doesn't develop after 2 bars, exit. Summary: Day: - RT: 2 (1 win, 1 lose, 0 scratch) - PL: -0.50 Month: - RT: 3 (2 winner, 3 losers, 0 scratch) - PL: -4.50
10:10 Begin B1 982.75 983.25 +0.50 (10:20) (10:26) Buy reversal b.o. Turned into rocket, but snatched small profit on low volume bar. [hindsight: missed bigger profits - decision to exit was sound I think - but might have considered re-entering when vol. picked up a few mins later] B1 988.25 989.25 +1.00 (11:20) (11:24) Buy b.o. of flag. Take profit when move stalled and acc/dis failed to make new high. [hindsight: good exit] B1 990.00 990.25 +0.25 (12:04) Buy new hi. Snatched profit when price stalled. [hindsight: chicken exit - TICK, TRIN, acc/dis all favoured a continued rise - also rocket signalled - should have stayed] 12:20 Quit Attached chart contains yesterday's trading too. Summary: Day: - RT: 3 (3 win, 0 lose, 0 scratch) - PL: +1.75 Month: - RT: 3 (5 winner, 3 losers, 0 scratch) - PL: -2.75
9:45 Begin S1 986.00 988.25 -2.25 (10:01) Sold break of cong. Stopped out on quick reversal. 10:39 Left the screen for 5 mins & missed a good move - and a rocket signal. I will look to entering long rocket on a retracement. 10:48 Rocket failed. Volume v. low today so far - summer, Friday, power problems. S1 990.00 989.75 +0.25 (11:06) (11:24) Sell break of little H&S. Didn't materialise. 11:45 Quit Summary: Day: - RT: 2 (1 win, 1 lose, 0 scratch) - PL: -2.00 Month: - RT: 5 (6 winner, 4 losers, 0 scratch) - PL: -4.75
9:45 Begin S1 997.50 1000.25 -2.75 (10:30) Sold break of flag. Stopped out. [hindsight: way too slow to exit here - at very worst 999.25 was completion of double bot] 10:43 Now we have a long rocket signal - but HoD res just overhead. B1 1002.00 1002.75 +0.75 (10:49) (10:58) Buy break of prev hi. Exit on volume spike and failure of acc/dis to make new hi (on 1min chart). HoD has been taken out. [hindsight: right to exit] 11:08 Long rocket has now failed, as has HoD b.o. - this is beginning to look like a possible short entry. 11:30 Quit Postmortem: 2.75 is way too big a stop to risk on a trade like #1 this - where profit potential was only 2-3. Some good moves during the rest of the day: break H&S @12.24; nice break lower @14:39 that I might have taken 1-2 pts form. The trend in the last hr didn't quite make rocked signal (stoc but not MACD) on the 3min chart - but did on the 5 minute. Daily volume picking up but still v.low. Monthly PL starting to look ugly. I don't think I'm being helped by the low volume, which works against the kinds of b.o. trades that I find myself playing. I'm going to cut back on my trading for the rest of the month, or until volume returns. When I do trade, I am going to take some failed b.o. trades - looking for low volume following b.o. Summary: Day: - RT: 2 (1 win, 1 lose, 0 scratch) - PL: -2.00 Month: - RT: 12 (1 winner, 5 losers, 0 scratch) - PL: -6.75