Rabu, 16 Desember 2009

Let's Talk About Trades

Today's first trade was a late entry - deliberately. The ES was going sideways and we waited for a breakout confirmation even though we saw the BUY orders coming in. An aggressive entry would have been at the previous green bar. I was concerned of a trap after seeing the market had retraced from the low of 1103.00 before yesterday's RTH close. The late entry cost $187.50 per 3 contracts. Not sure if it was worth it.

I delayed my first scale out as it was obvious that the breakout from the coil would go more than 2 points. We first sold at the top of the Keltner and previous VAH when resistance showed up and we were seeing a doji forming 20 minutes into that candle. Due to the lower volume outside of RTH, trading is a little different early in the day. The second trade really did not go far, just enough to give us a few points.

The spreadsheet showing the trades has changed format due to us using MSA. We need a format that can be imported. I'm still playing with this and it may change again. As soon as we have enough trades in MSA, I may show a screen shot of that instead.


 


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