Tuesday, May 08, 2007

May 8 Trade Summary $823






Well today I sucked because I didn't use my stops wizely. I scaled into positions too soon and exited my NQ long too soon. I'm surprised I made money today considering I took a big intraday loss be averaging a loser on ER2's afternoon pop, which was a total screw up. THE NEWS messed me up (at least that's my excuse for screwing up so badly on that trade). CNBC was running that insider trading stuff on the DOW, and that's when the market popped, I was going to go long, but thought that it was just short covering from the news, and then the market was going to go back down. Well, that didn't happen. It was a buy program that hit all sectors. NYSE A/D started out extremely bearish today, and has now been crawling up all day after 7:30am, with a big pop around 10:40am. I was getting ready to quit trading around 8:30am my time with a P/L of $678, but I wanted to try and get $800 again today. I recorded today's morning trading.

P/L= $823 (25 RT ER2, 9 RT NQ, 2 RT YM)

Trade summary-
Morning gap and flush to the downside.
Extreme bearish NYSE A/D opening value.
7:15 reversal
Afternoon buy program
Creeper crawling action on NYSE A/D

Update on trade experiment with reverse positions current P/L $212

2 comments:

jake said...

Hi. Awhile back you made a post on how to know if block trades where buying or selling. I think by using the raw data time & sales info in QT you can know for sure. If you check to highlight the row for block trades it highlights them in green and red, green if it went at the ask red at the bid. also if you look at the price on large blocks alot of the time you can see a few cent differential from the previous and next trade.

High Probability Trader on 9:36 PM said...

Thanks Jake, I use block trade signals using audible alerts so I don't have to watch my T&S, If the block trade is on a breakout we can assume it is professional money pushing the market further the current direction, if the block trade occurs during flat choppy action it is a fade.

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