1. There is a STRONG and URGENT need to be able to develop the art of being able to spot the broader (2/4 hr) trend in the market. This probably must start with asking this basic question multiple times a day – “RANGE or TREND”?
2. Z5 broke 9863.0 to the downside, after having supported THRICE on 60 min chart. After the first spike down, it came back up to 9862.0, and paused. Absolutely missed spotting this in real time! Whereas this was a trade that I should have been waiting for.
1. Z5 o/r 9854.0 level was holding really well. Once that level broke, I took short. But market didn’t break down, instead retracing a couple of ticks.After seeing this happen twice, I finally scratched my position. But after some 1 hr (also on back of ADP, IJC), lower level got broken and the trade gave 7-8 ticks.
Note: I need to plan such trades better. Often the market does not gather breakout momentum immediately, and stops me out OR makes me give up my position, before taking that direction. I should figure out execution of such trades,
– try and distribute my intended lots, some immediately, and some to add if market temporarily retraces.
Wasting too many RTs on legging out flies. Need to be more confident/wait for the right time.
1. VERY poor discipline early on in the day. Held U5 o/r 10 lots against for 6 ticks, and then did a revenge average by adding another 20 lots! Booked everything 1 tick below. Day stop.
Counting Friday, this was day stops in 2 continuous sessions.
1. Regaining some cool and making back everything in gross.
With the increased volatility, the Friday unidirectional are getting even more violent.
1. Being on the wrong side of the Friday american hour move, CONTINUOUSLY! Even taking a double tick loss on 3-month spread.
2. Loss of discipline in o/r loss booking during ^^ move. Day stop.
1. 29.5 level was supporting well on Z4. When market retraced a bit, price action supported that price. When I didn’t get fills there, I went long H5 and took a quick scalp of 2 ticks.
should have taken the trade with more lots.
1. Was pretty bullish after looking at the charts (bullish engulfing prev. day), but in the morning itself market was at its highs. I thought I’ll wait for a retracement to go long; but market rallied up one way.
Lesson: When confident about the trade, enter with fewer lots, so you can add if market retraces or otherwise you still have a position.
2. ^^Not going short on the Z3.Z4.Z5 one year fly.
3. Was holding H4 double fly, which was almost completely in gap, yet nobody was hitting. Should have tried legging out via spreads, at least with partial lots. End of day, fly flipped up.
4. Not sticking to plan. Went long Sep15 o/r, and plan was to hold position with support as 200 MA on 5-min 10year chart. However, I panicked over one last tick and booked loss. From there market rallied back.
1. Started doing TED spread trades. Seems like a decent thing to do when it is in a range. More importantly, it keeps you more active in the market.
1. Whilst trying to leg in to make TED, I didn’t get the 2-year fills. Should have hit the next 2-year price and made wrong side TED, instead of taking direct loss in o/r.