Friday, April 27, 2007

April 27 Trade Summary $417






I woke up late, 20min after market open, so I wasn't as prepared as I should have been. If only I had held on to that short position for another 6 min, today could've been a 1k+ day. Still, today was productive for the hour that I traded. Expecting market volatility to tail off now that they got BUSH on CNBC. I didn't have time to record todays trading. Gotta go to work so Quitin early.

P/L= $417

Trade summary-
There was a ton of volume on the bids at 7:35am, as you can tell from that charts, and it was near the lows, so I went short expecting a flush to the down side, but it didn't go within 3 min like I thought. So I ended up covering up the majority of the 5 contracts I held before we got the push through the lows. I ended up buying a little too soon, (should have used a 4 tick stop on that first buy at 832), but remembered that 830 was good support by looking at the volume profile charts which showed support at 830 from a few days ago and also we were getting block trades at this level with less movement to the downside, so I ended up adding to the long position and scaled out on NYSE TICK highs.

MISSTRADE also went short ER2 last night at 839 and made some nice coin today, covering near the lows. I've been checking out his blog through the virtual office, and he's been kicking ass. Also, Evolution Trader; who trades the airlines mostly, has been kicking ass as well lately.(I like his method to trading).

Market observations-
Gold (ZG) and Swiss Franc (6S) have bee pretty volatile lately, as well as crude oil (CL). Bonds (ZN) have been pretty choppy lately.

Weekly Summary:
Confidence was stronger this week, and has been growing each day with my account balance. My goal this month was to gain just as much as I did as last month, and I think I met that goal, which is pretty good considering I had 1 losing day this month where I lost $900. This week's gains were above average, which I contribute to trading with IB Book Trader. My goal was to gain more experience in trade executions this week using IB Book Trader, and it turns out that so far trading with IB Book Trarer has been a wise choice.

Weekly P/L= $2,005

I might not be able to trade next Monday or Tuesday, due to work. So I will probably do my monthly recap this weekend.

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