Monthly Archives: September 2013

Missed Gold Trade of the Day

It’s always good to go back and review your trades, so I hear… This is the trade I thought about, lines drawn, etc. but didn’t pull the trigger on. The RSI was indifferent, telling me nothing at all. When that happens, I sometimes go get a coffee, walk the dog or turn to other contracts. I could have setup buy orders on what eventually turned into a nice breakout. This was staring me in the face and I missed it. C’est la vie…

Have a good weekend.

Gold Chart

Bragging Rights

Semifinals, then buried…  I made one trade that I was proud of and several that I should have avoided. These were my first round trades:

CL BOT 1 105.63 11:07:58 20130920 NYMEX
CL SLD 1 105.54 11:12:10 20130920 NYMEX
CL SLD 1 105.5 11:21:51 20130920 NYMEX
CL BOT 1 105.49 11:30:18 20130920 NYMEX
GC SLD 1 1357 11:44:20 20130920 NYMEX
GC SLD 1 1358 11:46:04 20130920 NYMEX
GC BOT 1 1352.4 12:00:05 20130920 NYMEX
GC BOT 1 1351.4 12:01:00 20130920 NYMEX

I was looking for a breakout based on the support lines, and when the second candle couldn’t get past my support, it was a good signal to sell/reinforce the short. Could have gone the other way, of course, but the RSI was falling, and I was sitting in front of 200 people. The trade felt right, and when I heard one of the other contestants chase/scalp the momentum, I knew it was a good trade.

The Chart for the good trade(s) looked like this:

Gold Chart

So… Next the bad trades.

These were nearly all bad, my second round trades, under presssssuuuurre!

CL BOT 1 105.37 14:32:57 20130920 NYMEX
CL SLD 1 105.38 14:36:32 20130920 NYMEX
CL BOT 1 105.48 14:38:07 20130920 NYMEX
CL BOT 1 105.4 14:39:40 20130920 NYMEX
CL SLD 1 105.25 14:47:50 20130920 NYMEX
CL SLD 1 105.21 14:47:50 20130920 NYMEX
ES BOT 1 1715 15:01:40 20130920 GLOBEX
CL BOT 1 105.42 15:07:31 20130920 NYMEX
CL SLD 1 105.44 15:07:51 20130920 NYMEX
ES BOT 1 1713 15:18:57 20130920 GLOBEX
ES SLD 1 1711.75 15:21:53 20130920 GLOBEX
ES SLD 1 1711.75 15:21:53 20130920 GLOBEX
GC BOT 1 1338 15:28:46 20130920 NYMEX
GC SLD 1 1338.2 15:29:30 20130920 NYMEX
CL SLD 1 105.07 15:34:40 20130920 NYMEX
CL SLD 1 105.06 15:35:43 20130920 NYMEX
CL BOT 1 105.09 15:37:12 20130920 NYMEX
CL BOT 1 105.18 15:37:43 20130920 NYMEX
GC BOT 3 1338.7 15:51:56 20130920 NYMEX
GC SLD 2 1337.9 15:58:24 20130920 NYMEX
GC SLD 1 1337.8 15:58:24 20130920 NYMEX

Just seeing the number of trades you could tell I was chasing. I’m sitting up there with 3 other guys who know how to scalp very well. And I’m thinking, shit… Look at this churn, look at this churn.

Videos of the first round are on youtube. (here and here)

Another Adventure

This Friday I’m going to participate in a trading duel. What’s a trading duel? I have no idea really… Maybe it would be like an Atlantic City casino; fur hats and sunglasses. After looking into it, I’m reassured. It looks legit, and I look forward to the experience. Where else could you lose your own money in front of a bunch of people you don’t know? Besides a casino…

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