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Another lesson...?
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Created: by Lord Sidious Attachments:4

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Another lesson...?

  #1 (permalink)
Trading for Fun
Futures Experience: Beginner
Platform: IGMarkets
Broker/Data: IGMarkets
Favorite Futures: Dow Jones Index, Light Crude
Lord Sidious's Avatar
Posts: 91 since Apr 2012
Thanks: 8 given, 15 received

Another lesson...?

Hi, Guys!

Want to share with my last 2 trades. Id like to ask for opinions.

Trade 1: Wall Street Index (1 per contract)

Contracts: 5

Position opening: 13179

Limit: 13260

Initial Stop: 13170

Final Stop: 13182

Expected profit: 405

Loss in case of stop hit: 50

Spread: 2 points (10 in this case)

Well, I bought 5 contracts near the days low. Stochastics were near 0, MACD Hist were diminushing, MACD lines were about to cross, MA 5 was starting to reversal and pointing up. My target was 13260. I enter the position at 7:15 pm (GMT). I knew Id have to let this position to go to the folloing day, as Id have to pay for it (I trade CFD).

By 8:25 pm, price rose to 13217. At that point my profit was 190. However I didnt close the position, as I expected the price to rise during the following day (today). At this time I move my stop to 13182, to cover spread. My idea was to give some space for the price to fluctuate. Well, 13217 would turn to be todays high. During the night, the price fell and my stop was reached. From 190 I could get, I got 15. I didnt lose money and that is key for me.

Trade 2: Light Crude June (1 per contract)

Contracts: 3

Position opening: 102.57

Limit: 103.57

Stop: 102.37

Expected profit: 300

Loss in case of stop hit: 60

Spread: 6 cents (18 in this case)

Light Crude fell almost 400 points yesterday. At the point I open the position, like the previous trade, Light Crude was near the days low (after that great price fell). There was a MACD divergency with price. MACD lines were rising and MACD hist also, keeping above 0. All MA lines went flat starting to point up. I open the position at 102.57 and put my target at 100 point higher. Once again, day trading was not possible, as I enter the position by 7:25 pm (GMT). The market rose to 102.72. My stop was 102.37, has I allowed the price to be a little lower than the days low (102.43). Well, the price fell until 98.36!


If I could give a rate to me trades, I would give a C- to Trade 1 and D to Trade 2. My strategy was not totally wrong. I just should have predicted the price would hit or be close the Fibonacci point and fell again (thats what almost happen). As for trade 2, I confess I didnt expected for the price to rise more than 400, again.

I day trade! I rarely do swing trade. In any other situation I would have taken those 190. However I pointed for that target price...

So, guys, opinions? How do you acess my trades? Sugestions?

Thanks a lot.

Attached Thumbnails
Another lesson...?-chart-dj-03-05-pt1-5-min-.jpg   Another lesson...?-chart-dj-03-05-pt.2-30-min-.jpg   Another lesson...?-chart-light-crude-pt1-5-min-.jpg   Another lesson...?-chart-light-crude-pt2-30-min-.jpg  
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  #2 (permalink)
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  #3 (permalink)
Site Administrator
Manta, Ecuador
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
Big Mike's Avatar
Posts: 46,336 since Jun 2009
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Hi, you are posting in the wrong section of the forum. Please instead create a trading journal and you can post your thoughts on a regular basis to that thread, as you see fit.


Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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  #4 (permalink)
Trading for Fun
Futures Experience: Beginner
Platform: IGMarkets
Broker/Data: IGMarkets
Favorite Futures: Dow Jones Index, Light Crude
Lord Sidious's Avatar
Posts: 91 since Apr 2012
Thanks: 8 given, 15 received

Will do, Mike!


  #5 (permalink)
Trading for Fun
Futures Experience: Beginner
Platform: IGMarkets
Broker/Data: IGMarkets
Favorite Futures: Dow Jones Index, Light Crude
Lord Sidious's Avatar
Posts: 91 since Apr 2012
Thanks: 8 given, 15 received

Ive created my Trading Journal! Please, make your comments of this thread there.

Thank you!

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