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Daytrading the mini-Dow - Page 14

post #261 of 524
Quote:
Originally Posted by BobK View Post



Neat. Today I shorted 6M at .0785 and closed it at .078175 for $175 profit. Tonight I shorted ZN at 129'175 and bought 6C at 1.0026. I'll probably wake up in the middle of the night to check on them.

 


OK, got up at 4:00 AM and checked the charts and they looked alright. Got stopped out 6C 100.11. I closed ZN at 129'160 for a $93 profit. I got back into 6C at 100.21 and got stopped out again at 100.16.  Price went up so I moved my stop up. Good thing.

 

 

ZN  129'175 / 129'160   + $93

6C  100.26  /  100.11     - $187.50

6C  100.21  /  100.16    - $62.50  

 

Rough figures I'm down $157 but I'll nail 6C on it's return trip. lol

post #262 of 524
Thread Starter 

You have the trend on your side Bob!

 

Picked up 1 long /ES @ 1396 sl @ 1392

 

This is going to be a little bit risky with it being a counter-trend trade

post #263 of 524

Wow, I never expected to see that drop so much today. 6C continues to drop also. I'm just going to sit on the side lines for now and try to catch 6C going up. Ichi has been a big help to me with futures and I've been trading them for about two weeks and have much to learn.

 

I'm sure he'll be reading this stuff so he'll know what I'm doing plus I enjoy talking to you. thumbup.gif

post #264 of 524
Quote:
Originally Posted by JLC View Post

You have the trend on your side Bob!

 

Picked up 1 long /ES @ 1396 sl @ 1392

 

This is going to be a little bit risky with it being a counter-trend trade



 

I just checked ES and I commend you for your bravery. lol  I sure hope it turns for ya.

 

I have decided to wage war with 6C and when that turns I'm going for a ride up. Just SOH right now.

post #265 of 524
Thread Starter 

Was stopped out. I broke a rule and that's what happens. 1396 was a chased trade. Had I been spot on I should have made an entry around 1394 which would've hit PT.

 

Also, because I was so focused on this trade, There were two with trend signals that I did not take.

 

Lesson of day. TREND.

 

In hindsight, today gave SIX profitable trades. And I took the bad one.

post #266 of 524
Thread Starter 

Pinbar with trend trade.

 

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post #267 of 524
Quote:
Originally Posted by JLC View Post

Was stopped out. I broke a rule and that's what happens. 1396 was a chased trade. Had I been spot on I should have made an entry around 1394 which would've hit PT.

 

Also, because I was so focused on this trade, There were two with trend signals that I did not take.

 

Lesson of day. TREND.

 

In hindsight, today gave SIX profitable trades. And I took the bad one.



 

I'll tell ya JLC, I got a friend that really knows his stuff and he told me the other day he screwed up. Just goes to show ya it happens to all of us and we try to learn from our mistakes but we always find a way to screw up again. Thanks for letting me post here with ya. I feel like I'm talking to someone I know personally. Haven't even looked at a chart this afternoon but maybe later.

post #268 of 524
Thread Starter 

Likewise Bob, good to have you here thumbup.gif

 

Reading Pit Bull right now....very good read so far. It's refreshing to know Martin Schwartz ran into some similar problem as I did and shared the same solution!

post #269 of 524

yeah, schwartz was all about trend. 

Then it's only a matter of which trend setups work better than the others. 

It takes quite a bit of live forward data to determine that. I still like

trying the various setups but I believe there will be a day where I focus

on 1. 

 

 

post #270 of 524

A buy: 6B @ 1.5898. I've been sitting here waiting on something to show up on my radar and maybe I can find one more before bed time.

post #271 of 524
Thread Starter 

Lot's of history and pivot flips in the 1.5900 region. If it can get above I think you will may see some nice profits!

post #272 of 524

6B went up and then down right through my stop. Maybe I need to quit trading at night. confused.gif

 

I'm trying to catch the elevator going up and grabbed ZN @ 129'240.

post #273 of 524
Thread Starter 

/ZN looks solid now.

post #274 of 524
Thread Starter 

Going to head out for a bit. I have a sell limit at 1395 sl @ 1397.5

post #275 of 524
Quote:
Originally Posted by BobK View Post

6B went up and then down right through my stop. Maybe I need to quit trading at night. confused.gif

 

I'm trying to catch the elevator going up and grabbed ZN @ 129'240.



Out of ZN at 129'265 for small profit. $78. I should have sold at $192. rolleyes.gif

 

Bought 6B at 159.15 out of boredom. I would still like to nail 6C but I gotta be patient.

 

post #276 of 524
Originally Posted by BobK View Post

Bought 6B at 159.15 out of boredom. I would still like to nail 6C but I gotta be patient.



bad bob 2guns.gif trading is waiting.  Why are you patient for 6C but not for 6B? What's the difference?

 

good luck though. profits can be turned on anything. it's not always how you enter, it's how you exit. 

post #277 of 524
Quote:
Originally Posted by IchibomB View Post



bad bob 2guns.gif trading is waiting.  Why are you patient for 6C but not for 6B? What's the difference?

 

good luck though. profits can be turned on anything. it's not always how you enter, it's how you exit. 



I just needed something to do. Out of 6B at 1.5932 for $108.25

 


Edited by Bob Korreck - 3/29/12 at 3:37pm
post #278 of 524
Thread Starter 

Recap of the day:

 

Gone for a good part of morning but came back and had two great trade. My sell limit at 1395 was removed when I saw things picking up in BANK.

 

Missed a nice pinbar set-up at MA cross...got off the desk to make food and that's what happened.

 

Overall +2.25pts for the day. My lesson from yesterday was to take trend trades only for today. I'm glad I kept that in mind as I traded today because I saw a CT trade that was tempting. I was about to hit the buy button when I remembered what I told myself from yesterday. Skipped the trade and it turned out it was a loser smile.gif

 

I'm about halfway through Pit Bull so far and it has really been an enlightening read. One thing so far that truly stuck with me is do not fear the risk. Have confidence in your trade and pull the trigger. Let the math work itself out.

 

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post #279 of 524
Thread Starter 

By the way, any thought on The Daily Trading Coach by Steenberger? I hear it's a great read on psychology after Trading in the Zone by Douglas

post #280 of 524

how do you guys find all this time to read all these books?
 

Quote:
Originally Posted by JLC View Post

By the way, any thought on The Daily Trading Coach by Steenberger? I hear it's a great read on psychology after Trading in the Zone by Douglas



 

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