Out at 112 26 for 2 tick loss on each contract. Between posting here and not getting filled at my limit, I missed out on taking the small profit trade.
Standing aside for now.
Standing aside for now.
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Bond Trader 2006
- Thread starter johnpinochet
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Sold 2 ZB 112 19 for re-test of lows. Follow instructions for the attempted 112 28 trade...i.e. get out early.....
First target is 112 15, next is my number of 112 07. Pivot number is 112 06.
Remember the earlier trade at 112 28 and what went wrong. Better to get out early.
Remember the earlier trade at 112 28 and what went wrong. Better to get out early.
Out both ZB's at 112 18. Yeah I know....what can I say. Anytime prices go to 1 tick off of a profit target and COME back to my entry, I get out with whatever I can get.
Sure, it may break and go lower, but that is a whole different trade.
Sure, it may break and go lower, but that is a whole different trade.
Well, once again, it appears at almost 10:00 CST that we are going to have ANOTHER range trade day.
I'm probably going to call it quits soon as I need to move on with other things. Today was a chop small loss day. Considering the chart, I consider myself lucky.
If you continue to trade today, learn your lesson on our recent attempt at 113 00 and 112 16. Get in well away from either point. Doing it like I did, while not bad, and I stand behind both trades, doesn't leave much room for error. Technically on the 112 28 trade, I could have gotten out at 112 31. I put my limit in at 113 00. Considering the fact that 112 28 was a late entry, anything over 2 ticks should have been taken gratefully. My thoughts were that we were going to break 113 00, hence I stayed in a little too long.
The trade at 112 19 was fine as well. Getting out at 112 18 followed my rule of never allowing price to come back to my entry once it has reached (or almost reached) a profit target.
Oh, by the way, the short at 112 23 and getting stopped out at 112 26? Mistake 101. I'm so keen on the 0730 reports that I forgot that a 0900 report was due out. I never trade just prior to a report. In this case I entered the short right at 0859.
So, in conclusion, today should have been the following:
+5 -3 +4 +2 = 8 ticks (11 if you throw out the 0859 trade)
instead of
+5 -3 -4 +2 = 0 tick
I'm probably going to call it quits soon as I need to move on with other things. Today was a chop small loss day. Considering the chart, I consider myself lucky.
If you continue to trade today, learn your lesson on our recent attempt at 113 00 and 112 16. Get in well away from either point. Doing it like I did, while not bad, and I stand behind both trades, doesn't leave much room for error. Technically on the 112 28 trade, I could have gotten out at 112 31. I put my limit in at 113 00. Considering the fact that 112 28 was a late entry, anything over 2 ticks should have been taken gratefully. My thoughts were that we were going to break 113 00, hence I stayed in a little too long.
The trade at 112 19 was fine as well. Getting out at 112 18 followed my rule of never allowing price to come back to my entry once it has reached (or almost reached) a profit target.
Oh, by the way, the short at 112 23 and getting stopped out at 112 26? Mistake 101. I'm so keen on the 0730 reports that I forgot that a 0900 report was due out. I never trade just prior to a report. In this case I entered the short right at 0859.
So, in conclusion, today should have been the following:
+5 -3 +4 +2 = 8 ticks (11 if you throw out the 0859 trade)
instead of
+5 -3 -4 +2 = 0 tick
If you went short at the 112 19 to 112 21, this is the trade we were hoping for earlier. Take some profits now at 112 15.
Last post of the day. If you haven't exited completely, you should. You can enter later on another trade.
Once again, it could go down to the projected low, but you've made your money, 5 - 8 ticks depending on entry/exit.
I'm calling it quits. We are still in that 113 00 to 112 12 range. See you tomorrow.
Once again, it could go down to the projected low, but you've made your money, 5 - 8 ticks depending on entry/exit.
I'm calling it quits. We are still in that 113 00 to 112 12 range. See you tomorrow.
Pre-market commentary 02 February 2006
For the fifth time in a row, I will have done no mathematical calculations for my price projection numbers.
For my numbers see my pre-market commentary post for 01 February 2006.
No bias today other than a bias to the irritated side. Yes, I'm a becoming a little irritated at the market. Looking back at last week as well as this week, we've been in a range from 112 10 to 113 01.
As has been observed on more than one occasion these past 2 weeks, you could have made a killing simply buying or selling off of the 1 - 3 key numbers I've emphasized since last week. If only life were so simple. If you've been taking my system and doing it one better, please be careful. A break through either side of this 2 week range will probably be fast and furious.
Economic reports today for 0730 CST:
Jobless Claims
Productivity and Costs
For the fifth time in a row, I will have done no mathematical calculations for my price projection numbers.
For my numbers see my pre-market commentary post for 01 February 2006.
No bias today other than a bias to the irritated side. Yes, I'm a becoming a little irritated at the market. Looking back at last week as well as this week, we've been in a range from 112 10 to 113 01.
As has been observed on more than one occasion these past 2 weeks, you could have made a killing simply buying or selling off of the 1 - 3 key numbers I've emphasized since last week. If only life were so simple. If you've been taking my system and doing it one better, please be careful. A break through either side of this 2 week range will probably be fast and furious.
Economic reports today for 0730 CST:
Jobless Claims
Productivity and Costs
Test short at 112 15 to 112 18.
Stop at 112 22 or less depending on entry. 112 22 is safest stop but too far away for 112 15.
I'm in short 1 ZB at 112 15.
Intended to be a quick breakout trade to downside.
Stop at 112 22 or less depending on entry. 112 22 is safest stop but too far away for 112 15.
I'm in short 1 ZB at 112 15.
Intended to be a quick breakout trade to downside.
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