4/8 (+55) Trending up again nicely since open

Thursday, April 8, 2010

4/8 (+55) Trending up again nicely since open

Notes:
F in runner management
Look more to big picture chart
Moved stop on trade 23/24?
Stopped, and then my setup and the trade of the day happened. :)

(c2 = +9 - comm after -20 trade where it opened position when I was closing one in Ninja due to "not enough buy power" issue)

2 comments:

sam028April 8, 2010 at 5:18 PM
22 ticks MAE for trade #23, unsusual...
ReplyDelete
Replies
GaryApril 8, 2010 at 8:42 PM
Sam,

I noticed the same, it was 11 ticks x 2 contracts, but that is not like me. I also reviewed some of the trades, and not all were my A+ setups. I will be working on only taking my A+ setups along with focusing on the my runner. Runner is key! I am failing there miserably compared to a month ago.
ReplyDelete
Replies

Add comment

How I trade:

-> I first identify the context of the market. This is done by drawing trend lines where price has proven them already, and then most times, taking a parallel of these lines, and drawing ‘potential’ or unproven trend lines.

-> Once the trend lines are identified, I will locate key areas where price has failed to breakout/down, or has shown support/resistance on more than one occasion. I give the most “weight” to the most recent price action at that point.

-> Wait for price to approach a trend line, as well as have potential support/resistance in the same area, and then take the trade.

-> I trade 1-5 contracts. Full stop <$600. I look to trade from 7:30-10:30 CST.