I’m traveling, so I wasn’t trading live, but I take you through a trade I would have made in real life. Trading real money, I’d almost certainly have grabbed 2 points on 2 contracts… it was just taking way too long. But, since it was sim dollars at stake, I held my ground and went for 4 points on the second contract. This is one reason why, in my opinion, sim trading is only helpful to a certain point. It’s just not the same when you have real money evaporating at high speed!
Anyway, once again the trade I choose to record is one that drags out forever. Why is that???
It’s been a while since I’ve done a live trade. This one wasn’t too spectacular (1.25 pt winner across 2 contracts). Why is it that the live trades always take 8 minutes, while a lot of my trades are over in 30 seconds?!? But, it does show off the murray math lines, and is a typical way I manage a countertrend trade.
Update: it turns out that price went down to my second target EXACTLY… so maybe I’d have been filled or maybe I wouldn’t have. But, I’m happy with my decision to exit either way.
I recorded my first trade of the day. I got fib extensions right away, and chose to see if it would run further, instead of getting out. Was I correct to do so, or did I get burned? You’ll have to watch…
Man, this has been a rough day for me so far. I got a little chopped up in the morning, and managed to dig myself back to just a tiny bit of profit. As this video gets underway, you can see that I miss a trade I wanted to take. My matrix isn’t in the video, but I hit the bid with my order. Between the time of my click and when the order was activated, the market ran away from me. That has happened to me THREE times today, and I see lots of prints going off right in the middle of my bid/ask depth info. So, I have come to the conclusion that Tradestation has me bent over and is reaming me. (and, their stop server wasn’t functioning this morning, either…). I am going to look into hot keys so I can just send a market order from my keyboard. The reason I usually don’t use market orders is that it takes two clicks on the matrix, and you can hit the bid with one click…
Anyway… I jumped in on a secondary signal… was I too greedy? … did I get hurt? … you’ll have to watch….
I started to explain a chart change, but got interrupted. I’ve added a 377 period CMA to my chart. I’m trying it out because, Harry in the eotpro.com live room likes to watch an 89 CMA on the 6000 sb chart or so to determine the main trend. If you do the math, you’ll see that 377 CMA on 1597 will be pretty darn similar to an 89 CMA on a 6765 sb chart. So it’s practically the same idea except I have it all on one chart. We’ll see if I like it enough to keep it.
[EDIT: shortly after making this video the market started sucking substantially less, and I made some nice money on the big run up. Lesson: KEEP SWINGING, no matter what]
I won’t give away the ending… but at one point I did resort to asking the audience to clap for a push down, so this one definitely wasn’t easy going. :-)
Unfortunately youtube wouldn’t take the video where I did a post-mortem on the trade due to length restrictions, so I had to cut that part out. The main thing is, note the GVol_Oscillator divergence against me as the trade hits 1432 the first time. Normally, I would bail for a few ticks in the face of that. But, I was watching an indicator on a chart you couldn’t see, that convinced me it would be ok to sit tight in my short position. Was I right to do that? You’ll have to watch….
This post was contributed by a guest author, and does not necessarily
reflect the views of Richard or MovetheMarkets.com
I’m trying to do a video of my 1st live trade. However, it has multiple parts, because of the 10′ time limit. At this point, its not looking good, but we’ll see.
After much scientific study, I have arrived at this conclusion. Listening to Too Short, while short the eminis, has a positive effect on the outcome of each trade. This was the anomaly.
I’ll have to see about finding a better way to put this together in multiple parts. Maybe, I’ll just let it run straight through for the allotted time, and put the final result in print. At least my exit strategy is fairly clear, so that’s one thing I don’t have to wrestle with.
Everybody seemed to love the live trade video from Friday, so I made another one today. Did I make money? You’ll have to just watch….
I can tell you I ended the day up 9.5 pts, and I even took about an hour and a half off to go load up on fast food. Yes, it was a pretty good day. Hope your day was also good.
I decided to try recording my first trade of the day. +$137.50 per contract. I’m not going to do this all the time, but it went ok (laptop seemed to be holding up) so I may do it more often. I’ve double-checked, and am a little alarmed that my stop was indeed at 1438.50, but TS didn’t trigger my stop order correctly. It treated it like it was at 1438.75 instead. Strange.
If I do more of these trades, I will possibly get better at narrating, and identifying where on the chart my stops are. Since I’m not interested in revealing how many contracts I’m trading, I can’t use the automatic order lines, which is a shame. Maybe I’ll just trade 1 contract on the demonstration trades… but then I’m giving up money just to make you videos, and that doesn’t seem right to me either.
…And it doesn’t mean anything, but my ego forces me to tell you I was right at the end of the video, when I said the GVol_Oscillator divergence meant the next smart trade would be a play back up to the rolling vwap:
