Wednesday, June 12, 2013

Putting theory into practice

Ha! Well I wrote about dealing with losing days yesterday, and today I got to put it into practice. No hindsight analysis as such, except that I made a few mistakes in executing trades, which cost me more than the over all day should have.

Annoying thing is, my one goal today was to make no such execution errors, and I ended up making a bunch of them! Anyway, tomorrow is a new day, one I'll be fully ready for. Hopefully there's some intraday action left because right now looks like bonds are up huge already in the overnight session.

ES had a very staggered drop today. I saw the trend flip bearish at 1632ish, and I should've jumped on it, but then I have decided to only trade bonds for now. Sticking to what is working, and keeping trading discipline.

ES chart from today, look how every time price dropped below a level, and came back and tested a prior support level, which had then become resistance. So now we have multiple resistances on the way back up. Lets see how tomorrow plays out. NYMO is really oversold however.

Bonds had a very choppy day, part of the reason my trades didnt go as well. The trending moves were missing today.

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