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Tuesday 13 March 2007

March 13 trade summary



I got one good scalp in the morning after waiting for a pullback from the new tick high for the day, then my computer locked up due to my video recording software, so I missed the big down move. I traded on the simulator and made around $1300 before I started trading again in the afternoon with my real account; however I used much greater position sizing in the simulator, so I cheated, and the P/L is a false indication of my trading skills. I came back online during the afternoon and got a small 8 second scalp on NQ, and took a bad YM trade in which the drift factor went negative, letting the trade take 20pts of heat only to end up making a 9pt profit, when I could have gotten 40pts. I was going to add to the YM position, but my rule is to not add to loser positions until I become a better trader.

I wish I had recorded the afternoon because there was much more to learn from the price action and volume, but I only recorded the first hour and a half. This last week I've started to see a great inverse relationship between the bonds and the stock market indices which has been a great indicator for reversals when looking at the volume between the two, especially during the first 2 hours of trading and the last 2 hours of trading.


I just cleared my chart data for the day on ES and ER2 because of missed data, and then I re-backfilled the charts, and now the charts look totally different. If I were to place the same trades I did today, they wouldn't correspond to the chart at all. I still had good data for IWM from the day, so I compared IWM and ER2 and you can see a big difference between the charts. YAHOO finance is showing that my backfill is messed up too, so I may need to get the newest version of quotetracker which was released yesterday.


Edit: I updated to the latest version of quotetracker and the data backfill is good now.

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