Thursday, April 29, 2010

4/29 (+14) Slow day, big grind up from premarket

Price action was very slow moving in my opinion on the cash session. Took one, tried to scale in, ended up costing me today. I still think it is the right idea on the majority of days, and I trust my ability to spot entries.

Was also testing trading multiple DOMs today and new ATM management.

No use in forcing anything will call it a day, after giving much of it back.

Why not 8:34 or 8:53 (too fast i think) long trades or 10:05 short trades? Need to answer this.

Test ATM and multiple DOMs outside market hours. (seems obvious, right?)

Thoughts on trade:

Exited 1 at.21, just in case .20 double bottom held.
Exited next at .18, was predetermined target.
Exited .05, again, predetermined, and then .02, not sure why I moved target here, originally this was .91.
.08 and .11 additions were fine, but would have had to use a .26 stop, too much. Wait for the long signal to show and fail, then take it?
Seems original idea was fine, just needed to give it more room.



Update: also forgot about small trade early in the day, bailed with a few ticks, nothing noteworthy, was aggressive. (C2 on crack on this one?! odd price action here at 8:52, moved up enough to move my stop, then moved like 10 bars in a few seconds?)

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