Sempai's YM Journal

9:53 am. currently long 1 contract at 9438.

p.s. at 9431 and will begin to trail it 3 bars back.

Very tough start this morning with lots of whipsaws, but this trade is starting to run.

Report out in 5 minutes so I'll be looking to tighten up stops soon.

 

10:00 am. moved stop to 9472 below previous bar due to report.

 

10:01 am. Stopped out at 9472 (+34 points)

 

Summary for 8/21/03

It was a rough start this morning due to several whipsaws early on. Due to the whipsaws, I stood aside and missed a range entry (long) at 9:43 am. at 9415 that would have been great. I’ll try to keep this in mind and be a little more persistent at taking second and third setups after whipsaws in the future. I decided to stop a little early after that last trade (while I’m ahead) because I’m a little tired and also have to take off soon and I wanted to post a quick summary before I leave.


4 Trades: 1 winner, 3 losers.
Gross P&L: +19 pts.
Net P&L: +11 pts. (2 pts./rt. for slippage and commissions).

#1 Range

9:38 am. +1 @ 9416
9:40 am. -1 @ 9412 (-4)

#2 Retracement

9:40 am. -1 @ 9412
9:43 am. +1 @ 9417 (-5)

#3 Range

9:51 am. -1 @ 9432
9:53 am. +1 @ 9438 (-6)

#4 Retracement

9:53 am. +1 @ 9438
10:01 am. -1 @ 9472 (+34)

 

Here is the chart for today's trades. The 9422 support level was formed by yesterday's high (prior resistance), and the 9437 resistance was the high of the opening 5-min. bar.

 

So far, just one setup this morning at 9:32 am:

entry: -1@9487
exit: +1@9485 (+2)

Retracement setting up now at 9:55

 

9:55 am. retracement entry +1 @9487 stop.

I tried to place the order, but the market traded through before I got the order in. I'm starting to try to take some of the signals for real, so now I have the problem of actually getting the orders in. I haven't used J-Trader for a while, so I'm a little rusty on the order placement. These problems were expected, and it will probably take a few days to get better at placing the orders.

9:59 am. protective stop at 9479

 

trade #2 exit: -1@9479 (-8)

 

3 Trades: 2 winners, 1 loser.
Gross P&L: +7 pts.
Net P&L: +1 pt. (-2 pts./rt for slippage and commissions).

A pleasant surprise today: on the 2 orders I was filled on (#2 & #3), I received no slippage on my orders.



Trade #1 Range

9:32 am. -1@9487
9:39 am. +1 @ 9485 (+2)

I tried to place the order, but I was having a little trouble with the cancel/replace function to change the order, so I missed it. (As I said earlier, I haven't used the platform for a while, so I'm kind of rusty.)

Trade #2 Range

10:07 am. +1@9463
10:08 am. -1 @ 9459 (-4)

(I actually sold 2 on the exit to stop and reverse my position).


Trade #3 Retracement

10:08 am. -1@9459
10:17 am. +1@9450 (+9)



Gotta go now - I'll post the charts this afternoon.

 

I forgot to post a trade setup that occurred at 9:55 a.m. in my summary. I've labeled it on the chart as trade #1b. The corrected information is:

Summary for 8/22/03

4 Trades: 2 winners, 2 losers.
Gross P&L: -1 pt.
Net P&L: -9 pts. (-2 pts/rt for slippage and commissions)

Trade #1b Retracement

9:55 a.m. +1@9487
10:03 a.m. -1@9479 (-8)