Bond Trader 2007

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0849 CST

Not my favorite trade in the world. I really wish it would break 107 000. I'm shooting for 107 010 to gradually exit out.

OK, I may take a single tick profit. I forgot about the 0900 report. I really don't feel like being down a thousand in less than a second.

0853 CST

Pull up a 3 min ZB and a 3 min ZN. Interesting isn't it, the way we are stuck here at the high for the last 8 bars.

0855 CST

It looks like nothing will happend until the 0900 report. Really an uncomfortable position to be in. It is not the 0730, but then again, price is telling us that it will move one way or the other in less than 5 min.

0901 CST

Amazing. Simply amazing. What a day. I really am going to call it quits. I'll post what I did after I walk around for awhile. I'm still holding a 5 lot of ZN's.

0909 CST

In my IB screen I divided up my lots into 4 sets of 5 with sell selected and various targets. I was being positive so I selected profit targets rather than loss targets.

0859 CST Sell 5 ZN 107 020
0859 CST Sell 5 ZN 107 020
0900 CST Sell 5 ZN 107 050
0906 CST Sell 5 ZN 107 040

The second sell at 107 020 was a mistake. I meant to select 107 35.

Done with bonds for the day. I wouldn't call my two trades the easy money trades we've talked about. They were grueling. Something I'm trying to get away from.

On to stocks.
 
0923 CST

My success prevented me from taking a second classic trade. Look at the 3 min from 0903 to 0915. If you've been following the journal, you know that that is one of the classic no brainer, easy money setups I look for.

Darn. In any event, I think I shattered my daily best.

0933 CST

I'm seeing something interesting on my cycle chart. I'm showing a cycle low here. Yeah, a cycle low up here. The last cycle low hit at 0800. My cycles are different than the usual. My indicator simply gives the likelihood of current prices being the low for the next hour or so.

Don't bet the farm but it might be worth watching and buying a little for a run to the double 00's.

Anything close to 110 22 is worth a buy in my opinion, assuming my other indicators hold up.
 
0946 Bought 2 ZB 110 27. Testing the waters. I'll go as high as a 10 lot for a re-test of highs.

Risk is 110 21 or 110 22. 110 22 is the pivot.

1006 Bought 2 ZB 110 27. Oops, we haven't even hit that yet. 110 26 is my fill.
 
1039 CST

This will be it for me. This is the third attempt at the highs of the day. No break then I'm out for a break even trade to a 2 tick profit trade.

1049 CST

Out of 4 at 110 29. Couldn't wait. I still think we will break 111 00.
 
Quote from Urkel:

John nice 9am trade i had a similiar one on. Do you generally have 3-4 exit targets on your ty trades?
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Only with the ZN's when I have that many lots. It is too hard to keep track of things in a fast moving market so I decide in advance where I want to get out, and typically exit half there, saving the rest for a run.
 
Quote from johnpinochet:

0300 CST Bought 4 ZB 111 01 with target of 111 04 (yesterday's high) before 0730 report.

The exit will probably be 111 03.
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John, thanks for your journal. I'm trying to understand your post: if the target is 111 04 why you 'probably' slash it down to 111 03? Do you exit half at 03 and the other half to 04?
 
Quote from Bernard111:

John, thanks for your journal. I'm trying to understand your post: if the target is 111 04 why you 'probably' slash it down to 111 03? Do you exit half at 03 and the other half to 04?
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This is a quick pre-open trade. The likelihood of kissing 111 04 is incredibly high, but the likelihood of getting filled at 111 04 isn't (prior to 0730 CST). If we kiss 111 04 a fill at 111 03 is a lock.

Waiting to see what happens here.....
 
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