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TimendaGain Trade Journal
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TimendaGain Trade Journal

  #21 (permalink)
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Closing this impulse trade. The reverse trade of course worked. I was in line at a store this morning at the cash open. I looked at my computer through my phone decided that the market was oversold. I didn't look at any other metrics. Just placed a market order and adjusted to stop and target levels.
Having arrived back home and saw the market going against me, and bouncing very near my stop I decided to exit on that little bit of strength....

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I'm glad this trade didn't work out because I didn't use a predefined method such as looking markets first.. But it gave me an idea to continue impulse trades based on this kind of casual analysis and track that separately.


Last edited by timendaGain; September 4th, 2015 at 11:03 AM.
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  #22 (permalink)
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Bias today is to the short side. Thinking of taking a short here as market rallied and stalled at the cash session high. But there's a lot of volume near by below. Non correlated EURUSD is selling off ( bullish for SnP ), Correlated USDJPY and Crude not doing much but mildly off lows.

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  #23 (permalink)
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Entered long here. I know it's against what I was writing about. My bias is short and I don't want to flip my bias mid day.
My reason for taking this trade is I want to record taking this opportunity in my journal so I can develop my trading. I'm on sim after all. I'll just keep notes about why I took each trade.

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What I was thinking is I was seeing a 2nd test of the cash high getting tested. My first thought was to wait for that level to be broken as confirmation. My 2nd thought was that the 2nd test followed soon after establishing the high and that could mean continued interest from the bulls putting on pressure. But how does that make the chances more likely of a breach than say waiting for a retrace and rechallenge later in the session? Anyway, I think it's probably better to wait for the breakout.

Now, breakout is not something I have in my plan nor is this counter bias trade so this is definately outside my plan.

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  #24 (permalink)
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Here's a view of the "counter trade". I shorted at the same level, different sim acocunt. Currently testing the VPOC and D-VWAP level. In hindsight this trade is a reasonable execution of my primary trading plan. Short bias, test and rejection of the cash session high....

One thing I have to work on is how to manage getting out of a trade that's not working. I have a stop set far away above the W-VWAP. For systematic trading that's probably too close but I want to try and avoid such drawdowns.

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Last edited by timendaGain; September 4th, 2015 at 11:55 AM.
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  #25 (permalink)
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Continuing with the "counter trend" chart.. I moved my stop to just above that swing high. The market stalled around the D-VWAP and that level may have been a good place to take profits on a winning trade... or to take off a lot if I had multiple lots.

For the long position I would not want to close it at the the D-VWAP ( and now also VPOC ) but breaching it as it is doing now would worry me. Not much support on the volume ladder and the market could easily slip to session lows, I feel.

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  #26 (permalink)
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"counter trade" chart. I closed the positions on both charts. This is a little screwed up now and alerts me to a problem when managing both of these long/short practice trading. 1st, I took the primary long trade against my short bias. Instead I should have taken a short trade on that account at allowed my counter trade chart to demonstrate the opposite side. Next I started to focus on the winning trade, the short one. I closed the position at a good place for that one, a place to capture profits on the short. In keeping with my rule about mirroring each side, I closed the long as well.

On reflection, this short trade is in line with my established trading method and the trade one. It's just that my management of where the trade was executed and my thought process behind it's execution at the moment that was a little off.

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  #27 (permalink)
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12:40. I can see how having had stayed in the short trade longer would have paid. Or having 2 lots would have given me a 1st and 2nd target.
Presently, and in continuation of the short bias, I'm looking to get short at a retracement to the D-VWAP.

Non-correlated EURUSD has rebounded from it's selloff.
Correlated Oil continues to chop sideways below yesterday's close.
Correlated USDYEN continues trend down.

As I edit this post ES has breached the cash session low ( red line ) of the Wed session ( two days ago )
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  #28 (permalink)
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This is an important level ( 1913.50 ) as seen on this ETH 1440 min. chart.

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  #29 (permalink)
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Got back inside from doing yard work. Market is closed for the 3 day weekend. Found 2 lot entries filled. I would have wished to take profits on the 1st one near the session close. That was my idea... to use one lot for a near target. I will look for an exit for the 1st lot at the next open Sunday night ( yes, market is open even though Monday is Labor Day ).

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  #30 (permalink)
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Itís been noted that the long bond didnít rally as one would have expected during the US equity market 10% correction in late August. Has there been some large seller(s) keeping the price down or has there been a lack of buyers?

China is the largest foreign investor in US treasuries. Could they have taken the equity rout as an opportunity to peel off some of their bond exposure? They know that the Fed is strongly considering raising rates soon thereby putting downward pressure on bond prices. Wouldnít they want to start lightening up their holdings ahead of that?

WSJ blog

How can they get a good price? They recently devalued the Yuan to prop up their weakening economy. For some reason US equity markets didnít like that and sold off. The traditional risk off move is to sell equities and buy bonds. As the bond buyers stepped in it could have been the Chinse selling to them, keeping the price from rising.

If this is true it means that the Chinese engineered a way to prop up their economy while at the same time getting a large bid for the bonds they want to unload.

And, one more thing: They get to exchange the USD denominated proceeds from their bond sales back to Yuan at a more favorable rate. This then has the effect of Yuan appreciation versus the USD.

I wonder if, after the first round of this awesome trade someone over there had an ďah ha!Ē moment and said lets do this again!

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