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Monday, November 19, 2012

20121119-2

GC
Open:
Long 2 @ 1725.3. Gold Rush, still have 1 contract left over from the last trade.

Close:
1st: Sell 1 @ 1726.6. Market order, after taking 5 ticks heat, dropped down the order to exit the first contract from 20 ticks to 13 ticks at the current price level. Jumped the gun there, guess I just got nervous seeing that I was longing 3 contracts of gold, could've easily gotten 20 ticks. All in all I had a +3 contract position for only 2 minutes and freaked out a little bit.
Raised the stop loss to break-even after the 50 ticks target from last trade got hit.
2nd: Sell 1 @ 1730.4. I moved the order down after a 1600+ volume spike, trailed it a few ticks above the current price but never managed to get filled. It then turned back up and I moved the order up, was going to move it higher again, but it just got filled too quickly. 

2 contracts $640 gross, $626,12 net.
For the day $1190 gross, $1162.24 net.



20121119-1

GC
Open:
Long 2 @ 1722.7. 15m Squeeze, Gold was up 8, the uptrend looked good and was in a 15m Squeeze, had been watching it for 15 minutes trying to figured out whether to take the trade or not. Finally decided to enter when 5m entered a Squeeze and the momentum was rising. Put an limit order and got filled. The plan is to take off 1 contract fairly quickly and then put the stop loss behind the 60m 35EMA and let it run. 

Close:
1st: Sell 1 @ 1723.2. 1 tick heat, could've had 10 ticks, but didn't want to wait and take the risk. Stop loss moved to 6 ticks behind 60m 35EMA, or 50 ticks from entry, total risk is now $450. The target is at +50 ticks from entry. Also put out a Gold Rush order 26 ticks above the entry of this trade.
Gold Rush trade got filled.
2nd: Sell 1 @ 1727.7. 50 ticks target hit.   

2 contracts $550 gross, $536.12 net.