Home > Uncategorized > 4/19 Trading Recap

4/19 Trading Recap

Trade #1 – 9:30 AM Percent R Long – Definitely a little nervous but since this is my most profittable signal I pull the trigger.  Unfortunately I don’t have my system setup appropriately so I end up getting in 2 ticks late.  I do double my contract size as this is the best setup I have.   I took half off for +2 pts.  I’m tempted to take the other half off as well but don’t really have any real reason to.  I also was a little hesitant to take the trade as the signal could have been fake since 1 tick decided if it was legit or not.  I pulled up NT and it was not a signal but because it seemed to be working I stayed in the trade.  I never really gave any real consideration to expanding or shortening the target as I just wanted to get this trade under my belt.  I do think where I bought could be the low of the day and the market rallies all day, but who knows.  Result +$650

Trade #2 – The TF “setup” but did not confirm.  However after the pullback the market began to drop.  I took a half a position short at 1186 and covered at 1183.  I wanted 1181 as I had a target at 1179 due to a VAL from a consolidation chart from a week ago but I grew impatient as it had a little difficulty chewing threw Friday’s low.

Trade #3 and #4- I really didn’t want to take this %r signal.  I even started a post about why I wasn’t going to take the signal.  Well after watching it, it appeared it had room to go.  It just bounced around the entry (184) for awhile and all signs pointed towards today being a trend day down.  Also due to my market profile analysis I still had a target of 1179 even though we hit 1179.  Well after being in the trade awhile I started thinking of all kinds of excuses again why I shouldn’t be in the trade:

  1. It was lunch time (usually very choppy)
  2. We did get within 1 pt of my target (usually good enough to call target met)
  3. We did hit 50% of IB extension and retrace

Needless to say, with all the worry of being in the trade for 30+ minutes, I took the trade off.  Well, as usual, after sitting through an excruciating trade as this when I bail, there is often a drop next.  It happened here too.  I got back in at 1182.50.  After hitting 1181.50 (the break even mark of the original trade) I moved the stop to 1184.  Well the market retraced to 1184 and stopped me out.  Overall I cost myself $225 on this trade vs trading it mechanically.  So, I probably should have sat it out as my original instinct dictated, or traded mechanically.

Trade #4 – Percent R long at 2:50.  I hesitated at first to take this trade and had to chase.  Got in 1 pt late at 1189 (although no guarantees I would have gotten filled as the pull back low was 1188).  I held the trade to 1195.25 but had 1196 as a target.  After hitting 1195.25 I moved my stop to 1193 which was right at support (not below).  The market then pulls back exactly to 1193 and then launches to 1196.  I banked $400 on the trade but cost myself $300 by paying attention to my pnl vs where the charts said to put the stop.

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