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.

    Gil

  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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