Basically the previous post is a good review of my trades. I played around with POT in the afternoon. My mother warned me I should stay away from POT but did I listen - no.
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Just look at the chart. It was banging on 90 for most of the day. There was a big selling at 90 even and that gave a lot of people guts to short it in front of that round number. I tried buying a couple of times before the break out only to feel the need to scratch them. Finally - the break out. It lasted about 150 seconds as you can see and then it went down the toilet. I got filled at 90.01 and as it ran I put a stop in at 90.16 and was filled in 2 seconds.
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I never knew POT could be so dangerous.
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The over numbers really bother me today. I had 6 trades and if I held on long enough - I would have had 6 winners or near winners. Instead I had one small winner, two scratches, one small loser and one larger one. That was the bond trade I discussed below. If I had use 20 tick stops instead of 8-15 tick stops, I would have made $1000 instead of losing about $300.
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The numbers:
Stocks: Gross -36 net -47 shares traded 2000
Stock Futures: Gross +30 net +25 contracts 4
Bond futures: Gross -250 net -254 contracts 2
Forex: Gross -10 net -12 contracts 2
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Net for the day: -288
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