Daily Review + 63.10
Eurostoxx 50 – Trade of the day +46.30
Summary: Great trading, got filled on the long and short. First trade was early just after European cash open before our trade desk briefing. It was quite a technical day with no real news to bring any major volatility.
Trade 1 Long @ pivot
- 3 Contracts.
- Range play.
- Fat fingered a market sell order which hurt the end pnl for the trade while entering at pivot.
- Target 1, 2 and 3 filled.
Trade 2 – Short @ R1
- 3 contracts
- Range play
- Exit was good, missed the 3rd target
- Target 1 and 2 filled
Summary: Looked to play the short at R1, entered in a couple of times, the order flow wasn’t on my side didn’t feel comfortable so took exited for scratch a few times, seeking better pricing. You can see i got filled tick perfect almost just before a us data dump, I thought the market might fall away with longs covering before data, it didn’t happen. So I had to go flat at scratch. I took early profits as the move lower found support and wasn’t a fast enough sell off, didn’t feel like there were any sellers in the market.
- 1 contract
- New range play
- Short intra-day level R1
S&P 500 +4.22
Summary: First trade short was great, spx500 had failed at R2 on the futures, watching the volume profile build with no real move to making new highs, I could see volume trading but no real move towards the upside. This was probably bigger players re-positioning at fair value. I took the short as all three US indices were failing to break there respective resistance levels as they all came up and met resistance at the same time. The market sold off, I was hoping for a test of pivot, it didn’t happen.
Trade 1 Short at R2 futures chart (Winning Trade)
- 2 contracts
- Range play short
- Good entry and exit
- Was hoping for a bigger selloff to test pivot at least.
Trade 2 Short Classic Below R1 (Loss)
- 2 contracts
- Classic Short
- Not the best trade spx500 eventually traded to the top of the range again.
- Handled the loss well.
Summary: I actually entered short on the original test of r2, got out of the trade at scratch only to see it fall away on longs covering the run higher. I re-entered later short on the second test which is always a little more risky, it snapped higher and i got stopped out. I trade the trade again, just wasn’t working. I was trading a little more risky at the end as the RR was great if it had come onside and played the range. It was also late in the day and most of the moves had already finished ahead of tomorrows FED interest rate decision.