This was a nice Rookie mistake by me. I put this trade on with out looking at the chart or checking the contract size. I have not traded the 30 year bond futures contract in maybe 20 years. I was thinking the interest rates would pull back so I shorted a contract. I was thinking because I made an electronic trade- the contract was a mini and I could add an extra contract each 1/4 point up. No - this is a full size - crap - so I put a 1/4 point stop on it and it got hit. It spent the rest of the day dropping where I could be sitting on a profit now.
This one (MOS) I was not aggressive enough on my entry. I sat too long before I tried to move and missed the first move. I bought the first pull back and set a stop where if hit, the stock would go back down to the 40.25 area. The stock just kept going after a long sideways motion but never went under my stop.
This was the great pisser of the day. I thought I got in on a great entry and because I was gun shy about the markets breaking to a new high - I used a trailing 15 point stop moving it up in 5 point increments. A course it got hit just minutes before the market exploded.
-
Bottom line is if I used 20 tick stops today instead of 15, I would be having a great day.
No comments:
Post a Comment