21st May, 2013

1. With good alertness and patience, legging in to make U6:H7 6 month spread, when both 3 month spreads were almost in gap!
should have scaled up in every subsequent entry; not drastically, say 12 instead of 10 lots.
2. Booking loss early. Had gone long at 9895.5 in H6 (day high!), but forced myself to book loss 2 ticks below, instead of averaging. (Only consolation I allowed myself was making a SHORT spread, so in case the market reversed again, my loss would reduce to 1 tick).
3. Since my mind was unbiased, thanks to ^^ point, I was able to realize I hadn’t yet got scratch fills in outrights at the above prices, nor did I get BUY fills in spreads in which I had put my order in gap. Accordingly, went long Z6:H7 3 months spread (U6:Z6 backup) with 40 lots, and took 1/2 tick.
4. In Z6, 9842.0 was acting as a good support to the tick (also, nice level on 240 min chart). When it got breached, I went short outright, and although it took its time, eventually I could scalp 3 ticks on it.
5. When ^^ move gathered momentum, identified a similar imp level in U5 (Greens) and took a 1 tick scalp.

1. Aforementioned level of 9842.0 was very obviously holding in the morning. Missed going long on it for a 3-4 tick scalp.
2. In American hours, when ^^ 9842.0 level got breached, I could go short only at 41, instead of 41.5 itself; so I took it with only 5 lots. My original plan was to add another 5 lots if it went back to 41.5 (and try and scalp that 1 tick, before there is directional momentum). BUT I NEVER ADDED THOSE 5 LOTS! Reduction in risk appetite is making me miss out on capitalizing some obvious trades. Need to rethink this specific part.
3. The above is still somewhat OK, but the trade in greens which was a sure 1 tick scalp, must have been taken with atleast a few more lots.
4. Didn’t go long 10 yr at the imp 132.16.5 level.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s