Bond Trader 2007

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Quote from Jaxon:

We got your 111-03 print. (Wednesday's low - seemed unlikely to me this morning) Think it rallies from here? I am a bit stymied.
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Sorry, I took a break and walked to a corner grocery store.

I exited my ZN buy at break even when I got back from the store. The most I could have gotten out of them was 107 290 had I adjusted my order down from 107 295.

My concern now that we are resting at 111 03 is that we've tested this important number twice now. Three times a charm. See my post to Surdo. Not saying that it'll come true, but I would be very cautious about buying, i.e. 1 lot vs 4 lots.

Personally I would be looking for a sell between 111 08 and 111 13. Good for a few ticks only.

If only I had held on to my 111 11 short from earlier, or better yet, kept the 8 ZN at 108 000. Ha, ha.
 
Regarding buying, I think if we did break 111 00, I would think about buying between 110 30 and 110 25. Split the difference and call it 110 27. This would only be for an initial bounce and then get out for a few ticks profit.
 
One thing that you've got to realize about a day like today is that it can suck the life right out of you. Don't make up trades. We may very well stay in this narrow 4 tick range until the close.

If you think it is going to be a narrow range day, take your first trades during the first 1 - 2 hours of the day and call it quits.

Done for the day.

Good trading!
 
Well, once again, today demonstrates that if all you did was read my initial analysis, and use your own stuff to confirm, you would have made an easy 8 - 10 ticks twice. Selling at 111 11, and buying at 111 03. This also confirms the point I was trying to make earlier that I need to focus on extracting every tick out of my trades versus taking on more size.
 
Quote from johnpinochet:

This also confirms the point I was trying to make earlier that I need to focus on extracting every tick out of my trades versus taking on more size.
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Well said JP.

No need to create more RISK!
I like your usage of the word extract.

Have a nice weekend.

el surdo
 
0804 CST Just in now for trading. Missed short of month by not selling at 111 13 this AM. I wasn't here.

Today will be a range trade day, with the possibility of some break to the downside.

My thoughts are if we don't firm up here at 111 07, we will test Friday's low with no problem, and we might break 111 00.

Important numbers published all last week remain in effect.

For now as of the time of this post, I'm looking for a place to sell bonds.
 
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