Friday, December 12, 2008

Friday 12/12/2008

I had a couple of trades in the morning which basically canceled each other out for a net scratch. In the PM, I wanted to try a big-stop scale-in/scale-out play. I'm still experimenting with stops and I'm 90% settled on tight stops but for education's sake, I try the big stop scale-in/scale-out at times. I think this counter-trend big stop scale-in/scale-out method only works when the market is over extended and it can be very destructive if executed at the beginning of a new trend. By averaging in, my final entry price came out to 874.6 on a 17-lot. If I had just gone in with a 17-lot on a single order and taken 2 point stop-outs, I could have re-entered with a 17-lot at 879 which would have netted a greater profit. So next week, I'll be sticking with 2-3 point stops. Net gain for the day was +$1,393.50

Performance Summary/Stats

Trades Plotted on 3-Min Chart

Market Structure/Balance Chart (5-min)

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