Trade Nbr. 47 / 48 and 49 - 2007

I will report the 3 trades I did yesterday in one single post. The reason for this is that I want to remember the mistakes I did yesterday. Eventhough I ended up making some money, this was a very frustrating day where some serious mistakes were made. It is important to fix problems as they are identified and this is the objective of this special post !!


Trade Nbr. 47


Long June 07 Crude Oil: Entered on May 17th- Closed on May 17th. Long: 63,06 -- Initial Stop: 62,68 -- Sold: 63,35 -- Result: 0,76R

Bullish in Screen I - Pullback to value in Screen II - Entry Set-up 1 in Screen III - Sold after the previous candle printed a threatening tail ...

Comments: Very frustrating trade...... Exit was not very sharp this time !! I was afraid of the price action at this stage in the day, but my trailing stop methodology was not indicating a reversal yet .... I closed the position beacause I was afraid to give back my profit and not because my methodology was indicating to do so..... As a professional trader, we live from few good trades and I cannot screw up opportunities like the one that occured yesterday in crude oil !!!


Trade Nbr. 48 - 2007

Long July 07 Corn: Entered on May 17th- Closed on May 17th.

Long: 376,25 -- Initial Stop: 373,75 -- Sold: 374,25 -- Result: -0,80R

Bullish in Screen I - (Uncompleted) Pullback to value in Screen II - (uncompleted) Entry Set-up 1 in Screen III - Sold during the same candle as the market was reversing hard.

Comments: Bad trade. Went long as my entry set-up was not fully completed, kind of a wishful thinking...... Happened shortly after closing too early the Crude Oil trade, was annoyed and wanted to fight back which is not the way to make money in the markets !!!

Trade Nbr. 49

Long June 07 E-Mini S&P: Entered on May 17th- Closed on May 17th.

Long: 1518,0 -- Initial Stop: 1515,0 -- Sold: 1520,0 -- Result: 0,75R

Bullish in Screen I - Pullback to value in Screen II - (Late) Entry Set-up 1 in Screen III - Sold after the previous candle printed a VERY threatening tail AND my trailing stop got hit ...

Comments: Unimpressive trade...... Exit was good and according to my trailing methodology BUT entry was too late, I left 1R on the table due to the smaller position implied by the wider stop than usual......

Trade Nbr. 46 - 2007

Short June 07 E-Mini Nasdaq: Entered on May 16th - Closed on May 16th.

Short: 1883,00 -- Initial Stop: 1887,75 -- Covered: 1885,00 -- Result: -0,42R

Bearish in Screen I - At value in Screen II - Entry Set-up 1 in Screen III - Covered as the candle was reversing and breaking the entry candle's high...

Comments : Good exit but should have paid more attention to the Stochs that are ticking up in Screen II..

Trade Nbr. 45 - 2007

Short June 07 E-Mini S&P: Entered on May 15th - Closed on May 15th.

Short: 1504,75 -- Initial Stop: 1506,75 -- Covered: 1503,75 -- Result: 0,50R

Bearish in Screen I - Pullback to value in Screen II - Entry Set-up 1 in Screen III - Covered as the candle was forming another tail and because the CPI numbers were expected 1 hour later...

Comments : Good execution. My rule of not having any open position into important numbers proved to be the right decision....

Trade Nbr. 44 - 2007

Long June 07 Crude Oil: Entered on May 14th- Closed on May 14th.

Long: 62,76 -- Initial Stop: 62,56 -- Sold: 62,86 -- Result: 0,50R

Bullish in Screen I - Pullback to value in Screen II - Entry Set-up 2 in Screen III - Sold after the previous candle printed a VERY threatening tail ...

Comments: Good trade...... Exit was sharp !!

Trade Nbr. 43 - 2007

Short June 07 Crude Oil: Entered on May 8th - Closed on May 8th.

Short: 61,40 -- Initial Stop: 61,58 -- Covered: 61,26 -- Result: 0,77 R

Bearish in Screen I - Attractive value in Screen II - Entry Set-up in Screen III - Covered around the support of the trading range, as the market was choppy since the entry....

Comments : Good execution. Screen I is indicating a serious loss of momentum which was indicating that the odds were not very good to get a continuation of the trend.... Good exit !!

Trade Nbr. 42 - 2007

Long June 07 Crude Oil: Entered on April 30th- Closed on April 30th.

Long: 66,26 -- Initial Stop: 65,94 -- Sold: 66,38 -- Result: 0,37R

Bullish in Screen I - At value in Screen II - Entry Set-up in Screen III - Sold after the previous candle printed a threatening tail and the market failed to break the resistance area around 66,66...

Comments: Good position management, eventhough the bearish divergence in Screen I was indicating that odds were low to intiate a strong move today...... Exit was sharp !!

Trade Nbr. 41 - 2007

Long June 07 Crude Oil: Entered on April 30th- Closed on April 30th.

Long: 66,40 -- Initial Stop: 66,20 -- Sold: 66,35 -- Result: -0,25R

Bullish in Screen I - Pullback to value in Screen II - Entry Set-up in Screen III - Stopped by my trailing stop...

Comments: Good position management.

Trade Nbr. 40 - 2007

Long June 07 Crude Oil: Entered on April 26th- Closed on April 26th.

Long: 65,73 -- Initial Stop: 65,46 -- Sold: 66,24 -- Result: 1,90R

Bullish in Screen I - At value in Screen II - Entry Set-up in Screen III - Sold after the previous candle printed a threatening tail as the market was close to its objective in Screen II.

Comments: Good trade. Exit was sharp !!

Trade Nbr. 39 - 2007

Long June 07 Crude Oil: Entered on April 25th- Closed on April 25th.

Long: 65,09 -- Initial Stop: 64.84 -- Sold: 65.74 -- Result: 2,60R

Bullish in Screen I - At value in Screen II - Entry Set-up in Screen III - Sold almost at the close.

Comments: Finally a good win !! Good position management.

Trade Nbr. 38- 2007

Long June 07 Crude Oil: Entered on April 25th- Closed on April 25th.

Long: 65,12 -- Initial Stop: 64.80 -- Stopped: 64.80 Result: -1,00R

Bullish in Screen I - At value in Screen II - Entry Set-up in Screen III - Stopped out.

Comments: One more loss .... Amazing !! Five losses in a row.... Statistically I am due for some wins soon !! It is during such times that it is important to make sure one stays focused !!

Trade Nbr. 37 - 2007

Short June 07 E-Mini S&P 500: Entered on April 24th - Closed on April 24th.

Short: 1485,75-- Initial Stop: 1488,00 -- Stopped @ 1488,00 -- Result: -1,00R

Bearish in Screen I - Attractive value in Screen II - Entry Set-up in Screen III - Stopped by the Initial Stop.

Comments : Another loss with solid position management. Four 1,0R losses in a row..... markets are testing my trading methodology !! The most important thing to remember is that we are in for the long term when we trade and for this reason one only risk a small part of the equity he manages on any given trade. Series of consecutive losses (and wins) are part of any quantifiable edge and this current serie of losses is the price to pay to take advantage of better times to come !!!

Trade Nbr. 36 - 2007

Long June 07 E-Mini S&P 500: Entered on April 24th- Closed on April 24th.

Long: 1490.25 -- Initial Stop: 1488.50 -- Stopped: 1488.50 -- Result: -1,00R

Bullish in Screen I - At value in Screen II - Entry Set-up in Screen III - Stopped out.

Comments: Position management was good but should pay attention to the strong bearish divergence in Screen I which is reducing the odds that the trend is ready to resume........ Markets continue generally choppy which is extremely unfavorable for my type of trading....

Trade Nbr. 35 - 2007

Short June 07 Crude Oil: Entered on April 19th - Closed on April 19th.

Short: 64,08 -- Initial Stop: 64,29 -- Covered: 64,29 -- Result: -1,00 R

Bearish in Screen I - Attractive value in Screen II - Entry Set-up in Screen III - Stopped out.

Comments : Well, well difficult month sofar. The execution of this trade was good but the market is simply too undecided to allow my methodology to be successful.... The key during such rough time is too keep a very tight money-management and to continue to monitor the markets with total objectivity....

Trade Nbr. 34 - 2007

Long June 07 Crude Oil: Entered on April 17th- Closed on April 17th.

Long: 66,15 -- Initial Stop: 65,71 -- Sold: 65,71 -- Result: -1,00R

Bullish in Screen I (Strength Index was strong as I entered) - At value in Screen II - Entry Set-up in Screen III was not ideal but still valid - Stopped out.

Comments: Bad Exit, should have initiated the trailing stop process once the market printed the threatening engulfing candle right after the entry candle, this would have limited the loss to 1/2 R......

Trade Nbr. 33 - 2007

Long June 07 Crude Oil: Entered on April 13th- Closed on April 13th.

Long: 66,46 -- Initial Stop: 66,19 -- Sold: 66,56 -- Result: 0,37R

Bullish in Screen I - At value in Screen II - Entry Set-up in Screen III - Sold as trailing stop got hit..

Comments : Good trade. The week has been very hard, but my trading has been solid... Looking forward for better oportunities next week !!!