Monday 17 December 2012

Long Trade Alert: Trade 40 2662 Entry

Trade 40 goes long today at market close, entry 2662. I've been stopped out of both Trade 38 for -6pt loss (on an 'Algo-Spoof' in thin pre-market trade following 'better than expected' jobs last week, only to see the market fade during the pit session) and Trade 39 (Momentum Trade 12) -12.5pt loss today ($P/L = #pts x 20 x # contracts). Still profitable on the month (+66.5pts). This is an agile market here, driven by low confidence trade (momentum traders/'locals'/Algo's) -- not ideal for the positional trader --- there's a need to stay disciplined, keep position size fractional or stay out altogether.



My current positions:
1.Long 'Short Swing' NQ (Nasdaq)- Trade 40 2662
2.Short 'Momentum Swing' NQ (Nasdaq)- Trade 12 2649.5
3.Long 'Momentum Swing' GC (Gold) 1704.5