Shooting Ducks in a Barrel “7-0”

11/6/2012

Monday was by no means blue for me. I was a bit off with the daylight savings time that changed, still that did not matter much with such fantastic trading conditions. The whole day day trade after trade I could only keep saying “Like shooting ducks in a barrel.” I had the nice streak from thurs/friday now I have started this one ending my day 7 wins 0 losses. It will be fun to see how far this one goes into today as well. The starting indications of the market movements this morning as I write this are less then favorable, but you never know what the day might bring. I can see the currencies might be more difficult so I will likely focus on the commodities and indices instead to start my morning. The movements not only look tight but as well it looks as if some fake outs will be more likely, so I will be on guard with reducing my leverage and likely the # of trades. Now this is how I plan which is key to plan/prepare my day. Yesterday everything was telling me go for it increase trades and leverage, today feels the opposite. As a trader in time you will see planning and preparation are key elements for successful trading.

My first trade for the day was a twofer. Now when I have signals of the same time frame I don’t go in 5% on each one I go 2-3% on this one I went 3.5% on each. Since they both share the same time element and were in sync the likelihood of both winning or losing was fairly high. You don’t want to take too much risk on something that can be considered a single trade, but at the same time you don’t want to not take a bit more risk. So an added 2% risk was acceptable. It was a good signal and both were ITM with a fair amount of ease. Of the two Gold had the slightly better movement and entry price imo.

This was my favorite trade of the day, right from the word go it went straight up in both ticks and price to the exact time the ALGO ended price/time. Which gave me added confidence on the next trade which was the same pair but a sell instead.

The signals I had from monday were all very nice and kept getting better as the day went on. This trade on the EU was pretty much perfect. One person in the chatroom I frequent went in a bit too early and did not fair well on the trade as we can see what 5-10 mins difference can make.

This trade here had a variable length of both 8:39 to 8:50 and 8:40 to 9:10. I took the shorter window for 8:55 expiry from 8:49. It was a brillant entry that went directly lower afterwards. I sometimes will play a dual signal by again splitting up my leverage to a max of 7% between the two, but instead I passed on the second expiry as I would have been too far outside of the offered expiries from what was available at the time.

This signal here on Oil I was hesitant about because of the late entry but the lines were so perfect and the time window so tight that everything pointed that continuation up and a high tick ending was likely that I took it for 9:15 expiry which was the very high before the pullback and only 1 minute off from the conclusion of the signal. All in all a fantastic day that I could have taken a few more signals of which 2 of the 3 available to me were ITM for certain. Still for my own vanity I am keeping this win streak going lol. Leave a comment if you have any questions and I’ll get back to ya. Until next time, Enjoy!