Wednesday, October 20, 2004

Journal - 10/20/04

3 trades today. I got out early on all of them due to lack of follow through and volume. Eventually after a long time, the big move follow through came. Oh well, just didn't work out for me.

Trade 1

21:54 - S HSI 13087 stp 13095 - trend, 3m RH, low vol pb
21:56 - Exit 13081 +6 ticks - nft, volume not picking up on brk of pbl

Note: Good decision to exit immediately on lack of volume. Price went back up afterwards. Big gap down probably causing more sideways action.

Trade 2

02:51 - L GBL 2 @ 116.66 stp 116.60 - trend, 3m pb20ema, 5m bline oversold
03:04 - Exit 1 x 116.67 +1 tick - scale out, taking a long time, cover commissions
03:09 - Exit remainder @ 116.68 +2 ticks - nft, heavy volume but price not making progress

Trade 3

03:26 - S ESTX50 2 @ 2777 stp 2781 - trend, 3m pb10ema, pot'l cci zlr
03:31 - Exit 1 @ 2774 +3 ticks - scale out, very slow and volume not picking up much
03:33 - Exit remainder @ 2776 +1 tick - nft, big volume did not push this down and bounced back instead, buyers in the area?

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