Jul 2, 2009

Thursday's trades

What a slow moving day. I actually had some personal things that distracted me during the trading and - thank God for that as I most likely would've started banging my head on a table or something.
My first trade was a short of IWM off a break of the 10:35 bar low. I wish I was thinking a little more on this entry. Looking at it again, I really don't like it. I particularly don't like how the second bar dropped so much. Made the same mistake with SO earlier in the week. This can be easily corrected.
The better trades on the day - in the sense that I didn't lose money - were ERY and IYE. Went long ERY off a break of the 10:50 bar high (:10) after price retraced to the ORH and printed a textbook hammer. It jumped a bit but the choppy action later on just took me out on a revised stop.
Shorted IYE off a break of the 11:10 bar low (:10) and - just like ERY - after the initial downward move, price stalled and my revised stop was hit.
I wish I had another crack at VXX (11:10 bar high, :10). Just wasn't on the ball to take advantage of it.
It's been a good week so I can't/won't complain. Hope you all have a great 4th of July. And to all all my non-American readers... just have a good Friday and weekend.

1 comment:

bl said...

Nice trades didn't know you traded etfs's esp 3x ones. Good toknow about VIX etf. Isn't anythiong sacred. Trading the payroll news can be profitable, esp at the open: TZA 2/1" IB doji. A few longs: eln eslr osk. Happy 4thJuly!