bondtrader's Blog

Futures Trading, Musings, and Random Thoughts

Monday, September 20, 2004

Results for the Day

The trading day is just about over, but it doesn't look like there are any more trades to be had. Trades on the mini-Russell tend to thin out in the afternoon.

Since my Stats Manager is still not working, I have to type in the trade manually again. (So much for smart software and technology...)

14 trades, 12 winners, 2 losers. 32 ticks total, NET $185.20.

Here are the trades:

BUY 2 @ 573.3 7:34:36AM ER2264734301
SLD 1 @ 573.8 7:35:10AM +5
SLD 1 @ 574.0 7:36:43AM +7

SELL 2 @ 573.3 7:48:27AM ER2264748272
BOT 1 @ 572.8 7:50:49AM +5
BOT 1 @ 573.2 7:51:20AM +1

SELL 2 @ 571.5 9:58:57AM ER2264958563
BOT 1 @ 571.3 9:59:25AM +2
BOT 1 @ 571.3 10:00:01AM +2

SELL 2 @ 571.3 10:30:47AM ER22641030441
BOT 2 @ 571.2 10:37:20AM +2

BUY 2 @ 571.2 10:46:35AM ER22641046202
SLD 1 @ 571.2 10:50:23AM +0
SLD 1 @ 571.5 10:50:32AM +3

SELL 2 @ 571.4 10:59:18AM ER22641058453
BOT 1 @ 571.3 11:00:42AM +1
BOT 1 @ 571.4 11:02:16AM +0

SELL 2 @ 571.0 11:09:09AM ER2264118474
BOT 1 @ 570.7 11:09:50AM +3
BOT 1 @ 570.0 11:10:21AM +10

BUY 2 @ 570.2 11:14:20AM ER22641114155
SLD 2 @ 569.5 11:15:40AM -14

SELL 2 @ 569.7 11:21:53AM ER2264112096
BOT 1 @ 569.5 11:22:27AM +2
BOT 1 @ 569.7 11:25:06AM +0

SELL 1 @ 570.7 11:55:16AM ER22641154287
BOT 1 @ 570.5 11:57:44AM +2
BOT 1 @ 570.5 11:58:15AM +2

BUY 2 @ 570.8 12:07:35PM ER226412779
SLD 1 @ 571.3 12:08:14PM +5
SLD 1 @ 571.0 12:09:41PM +2

SELL 2 @ 570.6 12:11:49PM ER226412111111
BOT 2 @ 571.2 12:12:59PM -12

BUY 2 @ 571.5 12:26:19PM ER226412261812
SLD 2 @ 571.6 12:26:51PM +2

BUY 2 @ 572.1 12:30:39PM ER226412303113
SLD 1 @ 572.2 12:31:12PM +1
SLD 1 @ 572.2 12:31:39PM +1

Looking at the individual trades, the most bang for the buck is in the morning, where one of my biggest trades was. There was also one big trade in the afternoon. However, it was followed by a big loser. Most of the other trades were small; but that is how it's played. You never try to score a homerun each time; just get it a little at a time. I was looking over the shoulders of a fellow trader last week (via a chat room), and one of his money management styles is to lighten up on his position once he had a few winning trades in a row. He's just playing the probabilities -- once he has a few wins, a loss is bound to happen. I didn't think much of it at first, but after looking at him trade for 2 days, he was quite right.

I was also observing myself today, and found that after a big win, especially my first trade in the morning, my succeeding trades were smaller net wins, partly due to the markets at that particular time, partly due to me lessening the risk by taking the profits as they came to me. I also noted that the big trade in the afternoon came after I took a break from the markets between the morning and the afternoon session. Some of trades prior to the big one in the afternoon were taken after I stepped away from the computer screen for a while (even just 5 minutes). It didn't matter how long it was. The point is it did make a difference. Another trend that I noticed is that the morning really gives the best opportunities. (I talked about this in my previous post "Intraday Trends".)

Anyway, that's a wrap. See you tomorrow.


11 Comments:

  • Hi, I had a couple questions bout your trades. is the symbol ER2zo4.d ? And what Time zone are you in . I am assuming you are pacific?

    If you could give the basic's of your strategy or direct me where it is on your blog. Nice work today. I really like these kind of blogs that get into the day to day mind set of individual traders. I have started work on my blog , i think i will make it similar format but use it for the purpose of Listing My acutal goals and day by day struggle to get there,listing my trade details and P/L each day. Along with my strategy development process . I was thinkin of using a mirc chat by myself to post my trade entries with the time stamp, along with any comments about the trade as it is occuring. Then at the end of each day i can post that in my blog and i will have a nice real time journal.

    By Blogger john, at September 20, 2004 at 4:59 PM  

  • Thanks John. I will try to post my basic strategy one of these days. Just don't have time to do it right now.

    Anyway, if you're thinking of opening a blog, my recommendation is to just do it with blogger.com. Don't open up a trading room just yet; you don't need that kind of distraction when you're just starting out, especially if you just want an easier way to journal your trades. You need to focus on your trading, and being accountable is one of the ways to do it since you're making yourself vulnerable and actually allow yourself to look inside your "head".

    That's the hard part.

    Anyway, can't wait to read your trading blog. Please post a link back to me once it's set up.

    Good trading to you!
    bondtrader

    By Blogger bondtrader, at September 20, 2004 at 8:33 PM  

  • Thanks John. I will try to post my basic strategy one of these days. Just don't have time to do it right now.

    Anyway, if you're thinking of opening a blog, my recommendation is to just do it with blogger.com. Don't open up a trading room just yet; you don't need that kind of distraction when you're just starting out, especially if you just want an easier way to journal your trades. You need to focus on your trading, and being accountable is one of the ways to do it since you're making yourself vulnerable and actually allow yourself to look inside your "head".

    That's the hard part.

    Anyway, can't wait to read your trading blog. Please post a link back to me once it's set up.

    Good trading to you!
    bondtrader

    By Blogger bondtrader, at September 20, 2004 at 8:33 PM  

  • I forgot to add:

    I am trading the ER2 December 2004 contract (AB U4 on some charting platforms, others have it as ER2 U4). I believe your symbol format is from quote.com.

    Yes I am trading in the Pacific time zone.

    By Blogger bondtrader, at September 20, 2004 at 8:41 PM  

  • Hi,

    I was thinking about what you are saying about a first big win. I recognise this. I trade with two contracts (german FDAX). When I but get my target during the morning I almost never take a second position during the rest of the day. I just relax

    Carlo
    www.daxtraders.com

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