Bond Trader 2007

[johnpinochet]

0749 CST Bought 4 ZN 108 000 first trade. Testing waters.

0752 CST If price trades to 111 15 on the ZB I'll consider this trade a success.

My initial target is just a re-test of the highs.

 

[johnpinochet]

0756 CST Bought 4 more ZN 108 005.

My exact target with these is 108 025 initially followed by 108 050.

 

[johnpinochet]

0807 CST There is a danger that the ZB could drop to 111 03.

0810 CST Exited 8 ZN 108 315. I think we are headed lower. The kiss of 111 13 was it for the cycle buy. At least for now.

 

[johnpinochet]

0813 CST Sold 2 ZB 111 11.

Initial target is 111 08 followed by 111 05. I expect a powerful bounce around 111 01 to 111 03 assuming it holds firm.

 

[johnpinochet]

0817 CST I'm feeling a bit off, and may exit this trade as well for small 2 tick loss.
Will hold for a few more minutes.

I believe today will be range bound so my problem this AM is we are in the middle of the range. My thoughts are to buy between 111 03 and 111 08 and sell between 111 19 and 111 24. This may be the kind of day where you set your alerts and wait for the alarm to ring.

 

[johnpinochet]

0821 CST OK, exited the ZB's at 111 13. 2 losing trades in a row, but losses are modest. My rule is 3. I'll allow 4 due to small loss so far.

What I'm doing now is setting orders at the levels previously discussed and walking away for a bit.

 

[qazwsxedc]

Quote from johnpinochet:

believe today will be range bound so my problem this AM is we are in the middle of the range.

Not being facetious, just curious: What makes you say that? Absence of scheduled news or something else?

 

[johnpinochet]

Quote from qazwsxedc:

Not being facetious, just curious: What makes you say that? Absence of scheduled news or something else?

1) No news.
2) Lack of follow through up or down on interesting report numbers.
3) Powerful daily chart cycle moves coming up next week.
4) Intuition.

As far as the middle of the range, we are at 111 13, halfway between yesterday's high and low which are powerful numbers aside from being yesterday's high and low.

 

[johnpinochet]

0837 CST Allowing myself one last scalp sell trade here with the bonds at their pivot. Trying to sell 8 ZN at 108 000.

0838 CST Sold 2 ZB 111 11.

I didn't have time to post that I canceled the ZN order. I realize that this is a tricky scalp trade, so no need to take on that much size, i.e the ZB and the ZN orders together.

0842 CST I'm still looking at the previously posted targets: 111 08 and 111 05.

I'd like to reverse and go long around there as well, but will wait.

 

[johnpinochet]

0904 CST Looking to take all off at 111 08.