Friday, November 09, 2007

Nov 9 $700 17c


Overall I performed great today.



Today I traded much better, scalping good chunks out of ER2, YM, and ZF on 1-2 contracts.
I waited for my trade signals and I told myself I wouldn't add to losers with more than 2 contracts total (a risk management strategy I use to apply when I was trading smarter).

There was an interesting relationship between the 30yr and 2yr bond futures this morning. Instead of ZF leading to the upside, ZB was leading. I watched for bearish divergences between ZF and ZB to take short trades on ZF back down to VAL/POC value areas.



I watched for bullish climax points in the bond futures(ZB/ZF) and waited for the inverse trade signals on ER2 and YM to take mostly long scalps. (intermarket relationship) I also noticed a BID on NQ around 2055 and resistance on ZB around 8:15am. I also notice a tendency for climax points on Fridays to be around the 8am hour, which may have relevance considering the overseas markets close at 8am and because bond futures have a shortened trading day on Fridays.

Thanks to StockHunter for the comment which included the link to this great article on Risk Management which I read last night.

3 comments:

jenn said...

heyy that article was pretty interesting.. you should also try going to:
http://hototc.com
for some GOOD picks and other helpful information and stuff~

Anonymous said...

i caunt wait fur anuther bloewup.

High Probability Trader on 4:38 PM said...

Laern Engilsh Dumbasse!

PS, there will be a scheduled blowup next wedensday, so please check back then

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