Friday, October 15, 2004

Journal - 10/15/04

Trade 1

04:06 - L ESTX50 2768 stp 3t - trend, 50% fib retrace, heavy vol pb so high risk trade
04:21 - Exit 2771 +3 ticks - nft, cci hook, also t&s not printing buy trades (trades on offer/ask) so no buying support

Note: This trade preceded a missed trade I was anticipating and watching on a developing 30min cci divergence because I was called by my wife. So entry was made on pullback but the heavy volume on the pb made the trade high risk!

Trade 2

04:47 - L ESTX50 2766 stp 3t - entry pbh + 1 tick, noticed two trades of > 4000 and subsequently > 1200 on T&S, reason for entry, also oversold on 5min bline
04:56 - Exit 2764 -2 ticks - nft cci zlr, no flurry of big trades to confirm the big volume trade

Trade 3

04:56 - S ESTX50 2763 stp 5t - stop and reverse, cci zlr
04:58 - Exit 2761 +2 ticks - price quickly stalled, nft so i'm out, normally the zlr would result in a quick breakdown reaction

Trade 4

10:00 - L ER2 2 @ 564.5 stp 10t - counter, entry 5min pbh + 1t, 5min bline oversold
10:03 - Exit 1 @ 564.8 +3 ticks - not bouncing quickly, scale out
10:09 - Exit remaining 1 @ 564.6 +1 tick - stopped out, price rallied after stop out

Note: Stopped out prematurely because of bad stop placement. Should place stop below 5min pbl (5min was entry basis).