Monday, August 8, 2011

Mon. 8/08

3:45pm CDT - I’m back and systems are still sucking wind although I feel recharged. That said, you should expect my trading and posts to be sporadic for the next week or so. I’m going to spend some time rethinking my systems and strategies. Not sure where this will lead me but thoughts of larger timeframes, bigger targets and stops, less breakout and more retrace entries will be at the forefront.

In the meantime, my thought of buying ES at 1236 last week returned. This market is very oversold and so I bought 1 ES at 1150 as a position trade/investment. I plan to hold until 1200 or higher but will not let things get too much lower on the downside since I am now sitting on -$1900 unrealized.

Net breakdown (contracts traded):
ZS -$924(12)
RESULTS FOR DAY
Contracts:12
Net $P/L:-924
Wins:0
Losses:4
Win%:0
Avg$Win:0
Avg$Loss:-231
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2 comments:

  1. YM-TraderAugust 8, 2011 at 5:03 PM

    Yep, E*Trade jumped all over that. I went to YouTube to find one that hadn't been pulled yet. Give me a dull, boring small range day anyday. This macho crap about traders supposed to be loving volatility is a load of $#@!. Well, at least not this much volatility. I hope you get it worked out MBA. I wasn't aware that oversold was an indicator, but heck I'm an IE user so cut me some slack. (BTW, that's my new excuse for everytime I call something wrong..."I'm an IE user, what'd you expect??")

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  2. MBAGearheadAugust 9, 2011 at 8:15 AM

    Thanks YM - I fixed youtube link.
    Oversold isn't an indicator, it's the investor in me pushing the trader aside! :)

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