Nov 242010

Bund trading ideas for today were posted before the open.  Today was an interesting day to say the least.  I took 3 trades with real money.  First was long and then two shorts which didn’t work that well.  After that I realized it was an open drive and so I didn’t take any more trades with real money.  Here are the trades on the chart:

  1. Trade 1 – Long at CLVN.  This is premarket.  I rarely trade premarket but maybe I should.  I expected it to drop down to 54 where I had a LVN (“single”) from yesterday and I added 1 contract (as planned).  It hung around down there and I took off the first 2 contracts at my entry leaving with 1 long from 54.  Exited at 62 which was the DVPOC at the time.
  2. Trade 2 – Short from CLVN at 69.  Just one on this one because I didn’t have confirmation from DOM & order flow.  It pulled back and I got out +2, it would have hit my target.
  3. Trade 3 – This went up to the LVN at 72 and I shorted 71.  Only 1 contract due to lack of confirmation.  +4 ticks.

Here’s the trade list:

Here are my excel stats:

At this point I realized it was open drive potential and I stopped trading real money.  I practiced taking losses on sim.  I took a lot of short trades on the way up, that I wouldn’t have done with real money.  But I wanted to practice taking losses.  I didn’t move my stop once.  I finished -35 ticks.  Which is cool because I had +14 real and then -35 sim that makes a net of -21 which is -210 euros and that gives me an idea of what a losing day would be if I took a lot of trades (15 on sim) and lost.

The bund got really volatile which is the reason for most of the sim losses.  I haven’t seen the Bund like that in a long time.  I don’t know if it’s traders closing out before the holiday or if there is something going on that I’m not aware of (I don’t read the news while trading).

So overall a great day.  My biggest MAE was 6 ticks real and 7 ticks sim.  I was using a 6 tick stop but on a couple trades I moved it a tick or two to have it above a high/low.  So this is progress.  Next step is to stop abusing simulator and only take trades I’d take with real money.  I need to prove to myself a 6-8 tick stop will allow me to make more money.  I’ll do like today and take the best setups with real money and the rest on simulator.  This is a compromise.  Once I’m comfortable with 6-8 tick stop on sim I’ll stop sim and trade live.  Once I have enough data for that then I can increase size.  One step at a time.

 Leave a Reply

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>