Apr 112012

Today we had some nice signal clusters that provided good opportunities.  The first was marked “1” in Globex, that was my best trade.  I took 3 pts and was surprised to see it drop down much further and even more surprised to see it bounce right back up.  That was a clue.  I tried a couple more, scratching them and the market went up.

In RTH my plan was to short around 71.  I made a mistake and didn’t wait for that and entered with bad trade location.  When it got to 69 I added but when it stalled at 68 which was my avg cost I bailed.  I should have given it more time but I was not in a good position so I don’t mind getting out and learning the lesson – be patient and wait for good levels.

ES went down to the support level but by then everyone had lost interest and we didn’t get much of a bounce.  Overall a very slow lazy day of rest after the sprint yesterday.

One subscriber had a great short off the cluster of short signals at 69 and made enough to pay for over 2 months of membership just on one trade.  He did better than I did on that one and I think that’s fantastic.  With a common set of tools, we can learn from each other much easier.  And that’s the goal.  Facilitate collaboration with common tools & methods.  I’ll be writing more on this later.

Tomorrow is my last day before vacation.  I’ll take a week off and then trade the first 2 hours with the west coast gang.  I’ll be up at 6am anyway due to jetlag!




  3 Responses to “Review of Thursday 04/11/2012”

  1. Looks like you are looking forward to the weekend. It’s Wednesday.

    Wondering if you have read “The universal principles of trading” by Penfold? Very very good book IMHO.


  2. Gil – I haven’t heard of that one. I will have a look, thanks.

  3. Definitely take a look. For me it totally changed my approach to trading. I think all traders could benefit from the insights in the book.

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