Pages

Monday, October 8, 2012

20121008-1

GC
Open:
Long 2 @ 1770.2. Volume Spike trade, 4 am CEST, had 2 good volume spikes above 1000 contracts back to back, would've gotten stopped out on the first one, but missed it in real time, got in on the second one with a limit order 2 ticks below the close, so that the 30 ticks stop loss would be at 10 ticks below the low. Targets 20 and 50 ticks. This is the first actual trade that I've done after watching this trade set-up being very successful, but was too scared to do such a counter trend trade in a fast moving market earlier. This one may not work out just because I'm now actually doing it, but will try to do this trade in the future, because from what I've seen, it's a solid set-up, just to have to get the fear factor out of the way. 

Close:
1st: Sell 1 @ 1772.2. First target hit, 7 ticks heat, stop loss moved to the entry price, wanted to lock in a profit, and if this is a true reversal or a hard bounce, it shouldn't come back down to the entry price, moved down the second target by 5 ticks, just in front of the 50% retracement by 2 ticks. 
2nd: Sell 1 @ 1772.9. The Euro dipped along with AUDJPY, got a little jittery and decided to take the trade off, put an order at the offer and got filled, it went up 13 ticks shortly after that but didn't reach the original target (5 ticks from it). The price action was really quiet after the initial run up. It hit my target 45m later, would've been a top tick fill.

2 contracts $470 gross, $456.12 net.