What can I say? This is a market that traders love and investors hate. When I got up this morning and saw the premarket mess, I knew this was going to be a crazy day. We had already had a few. I noticed quickly my planned trades were going to be a bust and I could not find anything in premarket that excited me so I thought the best course of action was to watch MT trade today.
-
I posted in the charts above a few of his trades during the time I could watch. (Damn day Job). As you can see from the results, he makes many thousands of dollars a day while I am still learning. In my defense, I will say I am getting closer.
-
The chart to the left shows 3 trades in the NQ futures. The first trade went for 4 points and I was on the phone for work. The second went for 4 points - I nailed this one good. And the last MT got a great trade off but I only paid a commission. I was watching the tick and it looked like I could cover and resell at a higher price. That higher price never came.
-
The chart on the right is two trades in the ER futures. The first was a small trade off the bottom. There was orders in the market to add to the position if the market continued to go down. MT got filled at 802.00 and had another at 800 even. I thought I would do him better and buy at 800.50. The low was 800.70 before we started moving up. Because the market internals were so bad, MT kept a close stop on the trade and closed it at 802.80 for a small gain of 0.80. The second trade was to load up again as the market retested the lows. The first order was at 801.50 with a second at 800 even again. I thought to be smart this time and I had my order in too at 801.50. The market dropped just enough to get filled before going on a quick 7 point move. Suddenly, I notice that my order did not fill. Why? I forget to transmit it. Idiot. MT again because the market internals sucked big time was not going to let any profits get away and was stopped out taking 6 of a 7 point move. Amazing. MT took a hit on a couple of stock trades today but made a ton on money on the stock index futures. And I believed he did not have a losing trade in futures today. The best thing about his chat room is I feel I am learning a lot on how to judge the market in realtime.
-
The numbers:
Stocks: Gross -50 Net -52 shares traded 400
Stock Futures: Gross +190 Net +170.80 contracts traded 8
Forex: None
1 comment:
Post a Comment