Bond Trader 2006

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Out at 112 08.

Not trying to be sour here, but just for an FYI, here is what posting here cost me.

I sold 5 ZB's at 112 08. The market went down to 112 04. I said I'd accept 112 05. I can look at time and sales and see that I had a good shot of getting filled at 112 05 based on entering an order as it happened.

3 ticks X 5 contracts X 31.25 = 468.75.
 
Just curious why you are shorting this mrkt? I understand trying to short to possible close the gap up, and maybe that's it, but after a huge day like yesterday and on much stronger volume, wouldn't it be better to try to find a spot to buy the mrkt? To each his own, I know. One thing I do like about your style, you place stops and get out when it isn't working...no hesitation. That will save you in the end...as we have seen you do in this thread! Thanks for showing everyone that part of trading.
 
Quote from ECTrader:

Just curious why you are shorting this mrkt? I understand trying to short to possible close the gap up, and maybe that's it, but after a huge day like yesterday and on much stronger volume, wouldn't it be better to try to find a spot to buy the mrkt? To each his own, I know. One thing I do like about your style, you place stops and get out when it isn't working...no hesitation. That will save you in the end...as we have seen you do in this thread! Thanks for showing everyone that part of trading.
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Well, these are really just quick 4 tick trades. The intent was to take shorts only until the high of yesterday / low of today was touched. As you can see, the method worked. Between the kiss of the low on the 0815 3 min ZB bar, and now, my bias changed. The 0830 bar told me that we would go up from there. How far, who knows. It was worth 2 - 3 ticks. Looks weak now though, at 0924 CST.

In any event, daily bias is long, especially after yesterday. Intra-day bias was short coming in, and now long as of 0830 CST.
 
Neural net posted a long at 112 13 - 112 14.

The posted time for this long is 0920.

I'm long 4 ZB's at 112 14.

Target is a slow tortuous grind back up to highs of today.

Per earlier post, the real entry on this trade was between 0830 and 0836 CST, however, this is a legit entry as well.

What I mean by this is had you entered between the above time, you would have had a long rectangular price range that lasted from 0839 to 0927. Entering just before a break through the upper range of the established rectangle, especially given yesterday's activity is a legit trade. The break through occured on the 0930 3 min ZB bar.
 
OK, stopped out. Had I been watching I might have gotten out with 1 tick or else break even. No problem. Still a good trade. No decisions now. May call it a day.
 
Looking at the chart I see that the obvious exit is between 1035 and 1045 on the 5 min bar. This would have meant a price between 112 15 and 112 13 vs my stop at 112 11 set when I initiated the trade.

Of course the better exit would have been when it became obvious that we weren't going higher than 112 18. Anyway, just a brief explanation of how to better exit from the last trade. I had to get away so I couldn't manage it as tightly as I'm describing here.

FYI, MACD performed well again today on the 3 min.
 
Thursday 28 September 2006

I went short a couple of days ago for a position trade. Sold 1 ZB at 112 26.

My target on this position trade is 109 22.

I've been day trading since my last post. I'm taking a break from the journal for awhile.

Note that I have a locked in profit on the above trade via a stop just in case, i.e. even if it is a bad call I'll still make profit on the trade.
 
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