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1. TimeIn = 08:30 TimeOut = 08:33 Position = Short Profit = -4 MAE = 4 MFE = 0
EntryNotes: Waited for confirmation of a move lower prior to entry, sold at the bid.
ExitNotes: The market immediately reversed on my entry stopping me out at -4t.
GeneralNotes: I thought that the market would head lower today, and I was just stuck on the wrong side on this one.
I think it's good to do your homework in preparation for trading, but sometimes you're just plain wrong like I was today. We'll see what happens next week!
1. TimeIn = 08:31 TimeOut = 09:51 Position = Short Profit = -4 MAE = 4 MFE = 3
EntryNotes: Almost sold the bid here, but bid strengthened right before I executed the trade, so I waited and got filled at the offer instead
ExitNotes: Prices stalled on a move to +3t, then I was stopped out on a rally at -4t and the rally proceeded further
GeneralNotes: At around 8:45 I had a sense that this trade was going to be a loser. Prices came to within 1t of my stop and then the market changed direction and moved positive for me. This move failed and I was stopped out when the market made new highs. Not sure if there's anything to this “sense” I had. I certainly didn't think it would move positive like it did, but then again it was a loser anyways.
1. TimeIn = 09:01 TimeOut = 09:36 Position = Short Profit = -4 MAE = 4 MFE = 4
EntryNotes: I believed that the market was going to move higher off the open, so I waited for a better opportunity on the rotation higher, saw it, and was able to sell a disappearing bid
ExitNotes: Prices made a 2nd leg higher after they sold off, which stopped me out
GeneralNotes: I wanted to hold this trade looking for a retest of the overnight low.
I was hoping the market would break through the overnight lows on this one. I figure I need to be able to hit larger profits like that in order to counterbalance my really bad trades and leave some profit left over.
1. TimeIn = 08:30 TimeOut = 08:35 Position = Short Profit = -4 MAE = 4 MFE = 0
EntryNotes: Waited to see if the market was going to rotate higher before giving me a chance to get short, but it was able to proceed a tick lower so I placed an order at the offer and was filled
ExitNotes: The market immediately turned against me and never moved positive. Took a full stop loss
GeneralNotes: So the market ticked 1t higher than my stop loss, then it reversed and made it down to where I would've wanted to take profits. Looks like this was just a bad beat.
1. TimeIn = 08:39 TimeOut = 09:32 Position = Long Profit = 8 MAE = 2 MFE = 8
EntryNotes: Seeing how indecisive the market had been lately, I waited to see if the market would pull back from the open, and I wanted to try to get in at a lower price. I was able to find an acceptable entry where I was able to buy a disappearing offer.
ExitNotes: The market eventually traded at my profit target, then pulled back, then made new highs which filled my target at the offer.
GeneralNotes: I remembered how the market had been somewhat indecisive the last couple days, so I thought there'd be a chance of a pullback off the open. That's what happened, and I watched the dom to help me find out where to enter.
1. TimeIn = 08:48 TimeOut = 09:00 Position = Short Profit = -4 MAE = 4 MFE = 0
EntryNotes: I anticipated a move higher before the market sold off, which didn't really happen. The market showed weakness at the bid into the new lows, so I entered short
ExitNotes: The market stalled after my entry, then drifted higher and stopped me out
GeneralNotes: This was another case of right direction, wrong timing. I noticed that since midnight til my trade, that 27 and 28 were the most often traded prices. I'm wondering if that information could've been used to identify a better entry location.
I think the problem here is that I didn't get a "good" or "fair" price on my entry. I think going forward I'll attempt to identify a fair price based on the Overnight volume profile and use that to help me find an entry price. That would've worked today, at least.
No trading today. I was stalking a short trade off the open (green arrow), but I wanted to wait for a pullback to a better price first (red arrow), given how things have been the last couple days. I wanted to sell at 144-12 (red rectangle) but the market sold off at the open and broke the overnight lows (blue line), at which point I abandoned my short trade since this trade idea is based upon targeting the overnight low to take profits. The market did what I did not expect, and it got away from me today. We'll see what happens tomorrow.
No trades again today. I tried to get long off the open at 144-24 (green box), but the market never traded there and instead made the move I was counting on without me (blue arrow). I would've been looking to exit at the +8 tick level (yellow box), which the market achieved then sold off. I could've been slightly more aggressive on my entry, but I wanted to get in at a price I felt comfortable at.
1. TimeIn = 08:36 TimeOut = 09:58 Position = Short Profit = -4 MAE = 4 MFE = 5
EntryNotes: I liked the open here, but I wanted to get a “good” price on my trade so I placed a limit order at the mode price from 0200 to the open and near vwap, and was filled
ExitNotes: The market dramatically changed direction after attempting a move lower. My profit target was +8 and was unreached. Stopped out on a move higher
GeneralNotes: I think this one was just a tough trade. From the perspective of things I have control over, I did everything right on my entry and management. It's tough to make money when the market insists on doing the opposite of what you want.
Even though this trade was a loser, I was proud of how I took the trade. I applied my research to determine the market's bias, I used the overnight action to determine a good entry price, and I got the trade off and let it work itself out. I plan to make this routine going forward, and hopefully my edge will express itself over the medium-term.
1. TimeIn = 08:47 TimeOut = 09:33 Position = Short Profit = -4 MAE = 4 MFE = 2
EntryNotes: I saw an opportunity to get short close to VWAP. I initially rested an order at 145-07 then when the market tested there and turned lower I offered 06 and was filled there
ExitNotes: The market pushed through my entry nearly stopping me out, then tried a couple times to move lower, which failed, then the market rallied and hit my stop
GeneralNotes: I think I was a little too jumpy on my entry here. I don't love how I handled it, however there are times when I think what I did makes the difference between a losing trade and a winning trade, just not this time.
This seems like another "bad beat". I had the right idea, but the market exactly stopped me out then went on to make the move I had been hoping to catch. I think had I handled the entry better this trade would've gone the other way.
