A lot of negative volume on the second 5 minute bar to hit 112 26, i.e. 0755 CST.
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Bond Trader 2006
- Thread starter johnpinochet
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10 year, on the other hand is looking positive since 0733.
short 1 ZB at 112 24 at 0800 CST
watch closely. Remember my numbers!
We're beneath PP.
Next Pivot is 112 15, and after that 112 06.
Both numbers agree nicely with my observation of price activity last week and my own price projection numbers.
Remember, I said I am good at picking 4 - 6 tick moves. With 2 contracts exit one now anywhere around 112 20 or better.
NN CCI and NN RSI both down.
Next Pivot is 112 15, and after that 112 06.
Both numbers agree nicely with my observation of price activity last week and my own price projection numbers.
Remember, I said I am good at picking 4 - 6 tick moves. With 2 contracts exit one now anywhere around 112 20 or better.
NN CCI and NN RSI both down.
Bought 1 ZB 112 19 at 0807 CST.
0 positions on.
0 positions on.
Why only 1 ZB? I'm a little gun shy for three reasons. First, yesterday was unusual. I was amazed at my call to stand aside, as well as my call that the market looked like it would trade the higher end of the range. Second, I'm worried about chop. The market has been faking us for the longest time at prices around the following numbers: 113 01, 112 21, 112 15 and 112 12. Third, if you've been following me since I started this public accounting of my calls, I've nailed the market every day. Statistically, no matter how good you are, any streak will eventually come to an end.
I hope you enjoyed your trade of the day! By the way, speaking of trading only one contract, with one contract, I grossed 156.25 and netted 152.71. Did I already say thank God for IB?
As an historical aside, to give you an idea of how bad commissions used to be, way back when I started trading futures in 1994 I used Jack Carl. They were 43 USD a round turn! Months later I found Mann Financial. I thought I had found a gold mine in savings and they were 35 USD a round turn. Geesh!
Now, my trading life has changed since I found IB at 3.50 USD a round turn.
Another reason to bring this up, is that somewhere on these forums there is a 10 year note trader who trades incredible numbers for the day and ends up net a few hundred dollars. My observation is not meant as criticism. My observation is meant to inspire and motivate you to get away from the mentality that 1 contract is nothing.
One contract is money in the bank. One contract is no fear regarding your position size. One contract is freedom to trade.
With that said, 2 contracts is probably the trading sweet spot for 30 year bonds. It is usually my minimum number.
As an historical aside, to give you an idea of how bad commissions used to be, way back when I started trading futures in 1994 I used Jack Carl. They were 43 USD a round turn! Months later I found Mann Financial. I thought I had found a gold mine in savings and they were 35 USD a round turn. Geesh!
Now, my trading life has changed since I found IB at 3.50 USD a round turn.
Another reason to bring this up, is that somewhere on these forums there is a 10 year note trader who trades incredible numbers for the day and ends up net a few hundred dollars. My observation is not meant as criticism. My observation is meant to inspire and motivate you to get away from the mentality that 1 contract is nothing.
One contract is money in the bank. One contract is no fear regarding your position size. One contract is freedom to trade.
With that said, 2 contracts is probably the trading sweet spot for 30 year bonds. It is usually my minimum number.
NN CCI has been positive since 0810 CST.
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