Wednesday, 24 April 2013

April 24 - Comeback



To put this day in perspective, I was down 8 ticks. Had also scratched 3 trades that within moments would have been worth more than 20 ticks total.  In essence had been trading like a turnip, after having yesterday off even. Spirits were low, I was going to call it a day then things turned around. Volume really is my friend when reading the order flow. It makes it a lot easier to get a feel for things as there is more 'flow' less 'chop'.

The stops 6 ticks away are catastrophe stops incase I get disconnected or whatever.  I use ATM strategies in Ninja to place these.  Jigsaw cancels all trades when I close the position.

00:45   -  Felt the momentum in my bones.. and scratched immediately. Why oh why? Looks like I was chasing but volume was really building and I instinctively wanted to get a chance before it went to lows. As soon as I entered I panicked that I had just chased the market like a fool and should have known better so exited.

01:25   -  Offers were sticking at the step at '85 with momentum down still. Didn't go in the window I gave it so settled for 2 ticks.

03:10   -  Since didn't in previous trade and range was massively extended for the time trading so far in this Bund session I felt we might get a pop up so hit into the step at '85. Would know I was wrong if it went 3 ticks against me.

05:45   -  Got another opportunity at same setup before. Ideally would have bought '83 but 2nd time shouldn't stick around long if its going to go so I jumped on it.

Took one more trade later on and settled for 1 tick ... instead of about 8.. dam.

Music is added to make it slightly more exciting. Comment if you want me to stop doing that.

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