Futures Trades

Wednesday, May 31, 2006


Trade thoughts


Well today I reflect on my last few swings and realize I have been over targeting. Of the last 4 trades 2 have been two breakeven pushes after good profit (+120 and +70), and today a couple of small stops, -8 and -30 both discretionary trades that were poorly timed. The Vector system has been finding good entries; I've just been expecting too much from them. I actually missed today's early short signal that would have stopped out even after a +20 move.

On reflection I should have seen the two breakeven stop outs coming; I was expecting the abc correctives off the daily; I've talked about the count long enough...I should have at worst trailed the recent bullish trade (the 'a' up) and at best attempted to take profits during strength, and not held on in green hope. And likewise today, during the 'b' down I expected too much from it, anticipating a test of the lows last week. I probably should have trailed it or merely targeted the 11100 major support.

But anyway, Vector remains bearish for the open, and I'll be looking short side, trying to catch the 'c' completion on the daily. I guess now is the time to be patient with the good entries, and lots of green hope, so I'll just stick with what I've been doing and try to remember to target short the next time the Dow finishes a 5th impulse.


Shorted YM 11170

As per cbox today:
31 May 06, 13:07 Spikefader: Short 11170 now

The daily looks like it's weakening as it breaks the C again.


Looking for a short?

Next discretionary short setup:


Discretionary trades to nail the hourly C

After -30 and -8 today I'm looking for 3rd time lucky.
Per cbox (EDIT: nope, stopped for a push)

31 May 06, 09:53
Spikefader: And I'd like to get short into this 'c'.......Vector not aligning but I'm going to trade it discretionary for a while I think. The reward side of the equation is very nice...
31 May 06, 09:53 Spikefader: short 191
Spikefader: looking at a 5th completion on the 5min. and hopefully a tweezer top...

Thus far the trade is open and tweezer is now in place. C yet to confirm.

Broadening with breakdown, and C failure.

As per cbox; "31 May 06, 09:18
Spikefader: Short 11140. Risking 30."


Hourly C?

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