Thursday, August 14, 2008

Video of the Week: All Summer Long by Kid Rock

Thursday Day Trading: ZB Spike Reversal Trade $781.25

Click on chart for comments on trade. This trade made a total of $781.25 for every 2 contracts traded today. Entry came at 8:50AM Eastern time. This was a little after the RED REPORT CORE CPI release at 8:30AM. My trade was to go long at 116^10, 1/2 of contracts off at 116^16, the 2/2 off at 116^29.

1/2 worth $187.50 per contract traded.
2/2 worth $593.75 per contract traded.

Total on Trade ==> $781.25

Please note, that the entry at 8:35AM was right at a support level, sitting on the LOW of the previous day, if it would have closed below the low of yesterday, then I would have attempted the short trade.

With that being said, this support level kept me out of what would have been a bad trade. In any case, the trade at 8:50AM was supported with not only the LOW of yesterday, but VOLUME was good on the trade as well.

Good Trades,

David AKA Tiger

Wednesday, August 13, 2008

Wednesday Day Trading: ES Long Trades

Click on chart for comments on trade.

David AKA Tiger

Wednesday Day Trading: ZB $1000 Trades

Click on chart for comments on trade. Combined profit on both trades today for every 2 contracts traded was $1000 on the bonds. This is the morning and afternoon combined.

David AKA Tiger

Wednesday Day Trading: ZB Long Entry

In the bond market this morning, or the ZB market, I entered my long position at 8:35AM. This was 5 minutes after the two RED REPORTS of Core Retail Sales and Retail Sales. This trade was in and out in one 15 minute bar.

This trade made $187.50 per contract or $375 for every 2 contracts traded.

Good Trades,

David AKA Tiger

Tuesday, August 12, 2008

Tuesday Day Trading: EMD SR Trade

Although, this trade did not work out for full profit today. I do like this kind of set up at times. If you will note, there were two Spike Reversals shown, the first one was the low was lower than the the 2nd Spike Reversal, which had a higher low.

This is a trade pattern that I will take the trade at times on. This trade was specifically taken on my trading plan. It was closed out Breakeven plus 3 tics today. I wanted momentum to carry this trade up in a hurry this morning and this did not happen. This showed me that the market was heavy, and most likely wanted to go down more.

In any case, I was able to take a couple tics away from this trade, and more importantly it fell into my trading plan. After my bad ES trade, the most important thing you as a trader can do, is to look at why you took the trade, then not repeat the same mistake.

With this being said, the most important thing you can do as a trader is to walk away until you get your discipline back. Do not take a REVENGE TRADE to pretend that you will get back to even. If the trade is not in your trading plan, then do not make the mistake and trade it.

Now, mistakes do happen. The first step is to recognize you are in a mistake, then immediately take care of it as soon as you know that you are in. Hopeful thinking for the most part in trading rarely works out.

Ok, I am off my soap box now. On a side note, Steelers training camp was a blast with my boys, and I look forward to trading with discipline and control once again tomorrow and the rest of my trading days, to the best of my ability.

DO not beat yourself up, dust yourself off, and move on. The most important thing you can do, once you know what you did wrong, obviously is not to repeat that mistake again, but after that is taken care of, then get back on the horse and trade again. Do not let yourself become fearful of the market, allow yourself to have respect for the market, but let go of the FEAR.

I am truly done with my post now, and look forward to Wednesday and Thursday to see what the market has to offer.

Good Trades,

David AKA Tiger

Tuesday Day Trading: Bad ES Short Entry

In the ES Market today, I noticed that it really wasn't moving and formed what I would call a trading channel. I was looking for a breakout of that channel, and specifically looking for a reason to go SHORT.

Here is where my trading plan met up to me ... my trading plan would have passed on this trade, but the human in me took this trade. Why? GREED that's why! I allowed myself to believe that this was a valid entry, although there was no Green Volume Bar to show me the way.

When I think back on this trade, I know that I was trying to make money when the market wasn't ready to trade. I was running short on time, and had a time out with my boys scheduled. We went to the Steelers Training Camp and had a blast!

So for a variety of poor trading decisions, I allowed myself to take on a trade that I had no reason in hindsight being in. So bottomline, on this trade was for every 2 contracts traded it was a loss of $200 or $100 for every contract traded.

David AKA Tiger

Tuesday Day Trading: ZB Long Entry

Today started out on the wrong foot, and by that measure I should have went back to bed this morning. My first entry in the bonds was not filled on a LIMIT ORDER, so I made no trade on the 2nd bar this morning on the bonds.

My entry came a little later in the morning, and this was taken off at breakeven plus a tic. So far so good, then came the mistake trade in the ES Market.

David AKA Tiger

Monday, August 11, 2008

Monday Day Trading: Thoughts about Trading!

Hello Traders,

I rec'd a very interesting email over the weekend. The trader asked me if I fade my signals ... this kind of caught me by surprise. Obviously, the answer to that question is NO. I do not fade my signals, but I trade them, and a lot of times for profit.

In any case, that sort of surprised me. I receive questions daily on what I am doing, but let me make one thing clear. I do not fade my trade entries. Sometimes, a spade is simply a spade.

I think it is still a little hard for some people to understand that I am doing this to help those that truly need help. Once again, for the most part this is a commitment of my time, and a passion to see struggling traders that there is a light at the end of the tunnel.

I have been in that tunnel and know exactly what it feels like to be on the other end of trading. It can be a very tough place to be. This has sent me in the search of the trading plan that suits me. This is exactly what I have accomplished, and continue to do so each and every week that I am trading.

Most people see this as a losing game or at least a zero sum game. I am of that opinion, but I also believe that through proper training, then one can become a successful trader. The thing that you have to ask yourself, what will you sacrifice to become that?

This truly is what it takes to become successful. As far as I know, most people don't become successes over night, but it is a growing experience.

In my humble opinion, there is nothing wrong with EARNING while you are LEARNING. Therefore; this is truly my main reason for offering any assistance at all. I wish you all the best in your trading as always, and if you ever need the extra help, then know that I am an email away.

Good Trades,

David AKA Tiger

P.S. Sign UP Today to receive email updates on what I am trading, and I promise not to sell your name.

Monday Day Trading: ES Trade Exit

ES Trade Exit a little before 2:15PM Eastern time at 1308.25 on second half of trade. This is equal to $425 per contract traded.

Total on trade today was $575 per every 2 contracts traded.

Good Trades,

David AKA Tiger

Monday Day Trading: ES Long Trade Update

Update ... trade made target of 1311.25. My trade management of trade is working on the greenline strategy now. My reason is I like the way that the greenline is holding up and want to give this trade some more time to see how high the market would like to go.

Protective Stop at 1307.25 currently.

Good Trades,

David AKA Tiger

Monday Day Trading: ES Trade Still Long In

Another trade that was made came at 11:15AM Eastern time. My entry was to be long at 1299.75. 1/2 off at 1302.75 or $150 per every contract traded. On the second half of the trade, my target is 1311.25, which is a little below the ADR.

Just so you know I am trailing a stop in this trade, currently at 1303 even.

David AKA Tiger

Monday Day Trading: ZB Short Trade

Today in the ZB bond market. There was a trade that came at 11:20AM Eastern time. My entry short was at 115^29. 1/2 off at 115^23, 2/2 off at 115^20.

Total on trade for every 2 contracts traded was $468.75.

Remember to sign up for email updates on my trades, and other things that I think about and send out to my trading list.

Good Trades,

David AKA Tiger