Thursday, April 05, 2007

April 5 Trade summary

Well the winning streak has finally ended. Only -$100, but I should have made $500 today. Today I should have traded smaller size due to the lack of volatility. I let a winner on ER2 turn into a loser today, and I should have known better. I should have done more scalping instead of holding on to my position for so long on ER2. Overall for the week my trading performance is on track to meet last months P/L. I waited until today to look at my P/L for the week so I accomplished that goal.

Bad things today-
1.Should have put in limit orders for profit targets due to quickness of reversal to the upside.
2.Should have taken more of partial profits. (I had 0.6pts of profit on ER2 with 6 contracts and only took 1 contract profit, then let the price reverse on me, my signals were telling me to go long or flat, but I got greedy)
3.Didn't use a hard stop on YM and it ended up putting me in the red for the day.

Good things today-
1.Held true to my convictions of staying short into the afterhours on ER2 to better my P/L.

Market observations-
Never short a dull market.

I will try to post some stuff on block trades and setups today or tommorow.


Anonymous said...

Can you post about your Amex ETF Arb strategy? I was going through your old posts and I found one where you said it was "free money" and you made a video showing how to do it.

I couldn't find a link to your video of you doing it. Can you upload that video again?

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