10:30AM
So far I've taken a gap fade with 2 lots which is currently in a slight drawdown of $350. Really not expecting a trend day today so not sure I'm worried too much about this one getting out of hand. We've gapped up everyday this week and I figure at some point we've got to run out of steam. But maybe not.
Just missed a trade a few mins ago after the first pullback following the HOD print. Was looking for a better entry, but could've entered at least a 1/2 position. Of course, part of my hestitation was likely related to having to close my short gap fade to enter a long position. Could've re-established the short after closing the long, but what happens if the long didn't work out? That's what was going thru my head. Like it better when we are closer to a rollover date when the next series has some decent volume. That way I can trade a play in the other direction w/o affecting my core day trade setups. Not the case this here though with the Jun 10 contracts having little volume at all.
Ugg, and now I've just botched a decent shot on a nice countertrend setup. Was looking to sell a break below prior bar's low here at 10:30AM which I got, but tried to enter on a limit order rather than a stop. That's just not going to cut on a day like today where there's no liquidity.
1:00PM
Well my gap fade never went anywhere. Figured that would be an easy one, but no dice. Lost $400 on that trade.
Then took a pullback trade right before noon that went no where either. Fortunately I only coughed up $119 loss on that one as I patiently scaled out during the last hour chop. Why was I trading again?
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