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Hi Bill and all,
Ok I give, what is a "thank you trade". You did not mention it was also a OOPS
trade today nor working the news today. I bought the stall at 121-25 sold 122,
sold 122-08 bought 122-06, bought 122-16 after break out sold 122-22. Only in
the market about 2 hours so risk was low, don't know why I even bother trading
it as it was a classical short covering up day in the bonds and a more
profitable day just hold long or add to positions. Oh well. For those that
compare the S&P to the bonds, suggest anyone look at the return on at least a 15
to 20 tick profit as it relates to the margin. That's $400 to $600 profit per
contract on a $1350 margin taking a few ticks risk. Hard to beat it and all the
while riding in the Rolls Royce of the futures market. Good Trading
JD
T-BONDTRADER wrote:
> Just to make the point re- day trading, as opposed to scalping the T-Bonds:
>
> Today, was just one trade from after the Report. The deep downthrust on
> the 5 min chart got you in - without drawing a fast gun from the holster,
> you would have got ^02 at best or 04^ with ease. Let's say you were really
> badly filled, with your gun still in the holster at ^05 or ^06.
>
> You then rode it up to just under Yesterday's High. It then went through
> and finally did another Third Time Through and is currently stalled on the
> re-jigged S1 line. If it makes it to Day Before Yesterday's High, it may
> well reverse off for a 'thank you' retracement before the close.
>
> We are talking one trade here. One. I don't call that scalping. Your stop
> was never likely to be hit and you should take home around ^15 to ^20 per
> contract - without an indicator in sight.
>
> Anyway, have a look at the chart. It's supper time in England - or rather a
> drink beforehand. Cheers
>
> Bill Eykyn
>
> [Image]
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