Thursday Wrapup (12/10) - $355 Gain

For starters, I didn't get much rest last night so I need to take that into consideration as I trade today.


8:45AM 
Only one trade thus far since 5AM.  A countertrend setup that I traded with half size that I ultimately closed for a $12 loss.  Not much movement after entry so I closed it early when it became apparent we'd rechallenge the HOD.

Missed best setup of the day so far after the econ news.  Had a clear countertrend short setup at 8:35.  Nice vol spike on 3 min chart.  While I could see the sellers stacking up on the DOM, I elected to wait for confirmation (break of prior bar low), since I've gotten into trouble trying to read the DOM before.  Once the low lifted, I placed a limit order to short, but I wasn't filled.  Would've been an easy $300-400 with no heat.  Hate to miss these kinds of trades.

10:30AM
Faded the gap opening figuring this was a slam dunk.  Took a $600 drawdown before the market reversed course.  Man these gaps haven't been easy lately.  And thankfully I didn't trade yesterdays. As usual scaling out in 3s with this fade and first target hit. Stop just above HOD. 

Took a short pullback a few mins ago that went against me from the start.  Took the opportunity on first pullback to get the hell out of dodge for a small loss.  A+ for risk mgmt on this one.  See it's ok taking a loss!

11:00AM
Right now I'm content to sit on the sidelines until the market figures out which way it wants to go.  Down $162.50 on the day after two trades.

1:45PM
Still not much brewing..  One pullback trade since last update that I traded half size on for a $200 gain.  Markets are just too wild right now with rollover taking place.  Wild swings.  Currently in another pullback with my first target being hit already. Currently up $250 on the day not counting unrealized profits on current trade.

3:15PM
Just not much action at all today.  Closed out that last trade for a $12 loss.  Up $237 now with 2 lots remaining on my gap fade trade from this morning.  Will close this out at the EOD if my stop or tgts aren't hit first.

3:45PM
Near perfect pullback entry just after 3:30.  Sold 1/2 size due to the time of day. Then added another 3 lots when TICK hit 800 and I saw sellers hitting the bid.  Just a gut feel and I went with it this time. While the addition timing was perfect we never went anywhere afterwards.  Ended up with $87 of this trade.

Overall, I'll give myself a grade A today for execution.  Didn't try to force anything in today's chop.  Just weren't many opps to be had today.  Hopefully tomorrow will bring a better range.