[INTRA-DAY ACTION]
I keep saying it but I am a brilliant trader. I gave myself a month to double my paper account on TOS but 15 minutes into the trading day (equities time) I had made more than $126,000. I'm not really sure how it happened, as it just showed up when I was long bonds at one point. Which makes me wonder if there are expiration type deals that go on with /ZB which mean I would have had extreme risk and exposure outside my trading rules. Either way I'm delighted. Without that huge bonds windfall I am up over $6000 on the day anyway. Realistically I don't count this error in bonds as part of my P&L for today, but over $6k is around 6% of my value - not bad at all for 2 hours!
Blotter 1 (around 5 minutes after opening bell)
Blotter 2 (14:45 GMT)
Some charts:
Why I shorted Dow futures this morning;
Why I was long wheat premarket (anticipated full formation of ascending wedge). This sold off hard when Chicago opened but bounced back nicely. Should have held as the measured move is 550.
Bonds (/ZB) is really where the smart and quick cash is in the markets. Very simple setups worth a lot of dough. Here are my entry/exit points so far today. Generally scale in and out of a 10 contract position. I have reversed twice (covering 5 and buying 5) today after realising my entries were either wrong or late. This tactic really does benefit me and I have no hesitation i admitting I am wrong.
My trades in oil and gold were scalps. These two are hard to trade, especially gold where I had a $175 loss at one point. I am planning to move to a longer timescale for gold and I might cut out oil as it is too choppy/has been too choppy the past few days.
My trades in RIG and GS were shorts over the weekend, RIG panned out well and I shorted again shortly after close. GS was a hairy trade as it was trading at $101.6 premarket having shorted at $98.89. I scaled out of my 200 in 50s with my last 50 in the green. That tactic works significantly better than exiting on a market order for 200 at the bell (-$500).
My FX trades were all scalps on size, the best being a 123 setup in EUR/USD with support at yesterdays high.
Up about $131000 today so prob calling the closing bell!
Update 17:00 GMT
Added around another $2000 in profits. Nice trade at 7200 long on dow and another at 7250 and 7300. Pretty easy trading. Added some nice profits to gold and oil. Traded RIG based on oil move for a nice profit and scalped out over at KFT. Nice trade in soy bean futures too on a pennant formation. Wheat ended up 3.5 points short of the measured move so far and has been increasing on declining volume which I don't like - so might short soon.
I am becoming bearish on AUD/USD on a bearish wedge pattern here at .663. The only thing going for it is the new highs.
Currently looking to short dow soon, looking for 7300 again.
Edit 17:40 GMT
Trading with techno music is sublime. Added another $350 to dow and $375 to RIG. Dow trade was a long just over 7300 - I missed the short down there while blogging. Held for 15 points but could have easily continued to hold out for this move (bull flag right now). Entered large on RIG based yet again on a gut shot that the rally was overdone. Here's the chart of the rig short. The dow trade was purely a 123 pullback with moving average support and some seriously wicking candlesticks.
Trading music at its best yo!
Update 19:00 GMT
OK probably done for the day lol. Finally cracked +$1000 on the dow with a short at 7295 scaling out from 89-81. The final RIG trade added another $900. Not including the weird bond thing I'm up about $9-10k gross today with just over $2500 in commissions on 174 fills - and I didn't trade as much as I could have.
Blotter 1 (around 5 minutes after opening bell)
Blotter 2 (14:45 GMT)
Some charts:
Why I shorted Dow futures this morning;
Why I was long wheat premarket (anticipated full formation of ascending wedge). This sold off hard when Chicago opened but bounced back nicely. Should have held as the measured move is 550.
Bonds (/ZB) is really where the smart and quick cash is in the markets. Very simple setups worth a lot of dough. Here are my entry/exit points so far today. Generally scale in and out of a 10 contract position. I have reversed twice (covering 5 and buying 5) today after realising my entries were either wrong or late. This tactic really does benefit me and I have no hesitation i admitting I am wrong.
My trades in oil and gold were scalps. These two are hard to trade, especially gold where I had a $175 loss at one point. I am planning to move to a longer timescale for gold and I might cut out oil as it is too choppy/has been too choppy the past few days.
My trades in RIG and GS were shorts over the weekend, RIG panned out well and I shorted again shortly after close. GS was a hairy trade as it was trading at $101.6 premarket having shorted at $98.89. I scaled out of my 200 in 50s with my last 50 in the green. That tactic works significantly better than exiting on a market order for 200 at the bell (-$500).
My FX trades were all scalps on size, the best being a 123 setup in EUR/USD with support at yesterdays high.
Up about $131000 today so prob calling the closing bell!
Update 17:00 GMT
Added around another $2000 in profits. Nice trade at 7200 long on dow and another at 7250 and 7300. Pretty easy trading. Added some nice profits to gold and oil. Traded RIG based on oil move for a nice profit and scalped out over at KFT. Nice trade in soy bean futures too on a pennant formation. Wheat ended up 3.5 points short of the measured move so far and has been increasing on declining volume which I don't like - so might short soon.
I am becoming bearish on AUD/USD on a bearish wedge pattern here at .663. The only thing going for it is the new highs.
Currently looking to short dow soon, looking for 7300 again.
Edit 17:40 GMT
Trading with techno music is sublime. Added another $350 to dow and $375 to RIG. Dow trade was a long just over 7300 - I missed the short down there while blogging. Held for 15 points but could have easily continued to hold out for this move (bull flag right now). Entered large on RIG based yet again on a gut shot that the rally was overdone. Here's the chart of the rig short. The dow trade was purely a 123 pullback with moving average support and some seriously wicking candlesticks.
Trading music at its best yo!
Update 19:00 GMT
OK probably done for the day lol. Finally cracked +$1000 on the dow with a short at 7295 scaling out from 89-81. The final RIG trade added another $900. Not including the weird bond thing I'm up about $9-10k gross today with just over $2500 in commissions on 174 fills - and I didn't trade as much as I could have.
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