Category: Trades

NASDAQ position got stopped out here and as shown below:

I should have left at least one contract stop out at the break even point and let some profits run.

It is now going toward its target of 7500.
File under: Left money on the table.

Gold broke down from its rectangle formation. I indicated here it looked like gold would retest the $1240 low. The trade fit my plan. I hesitated to short gold here and missed out on big profits. From my experience, it looked like a bear trap.

I am going to step out on a ledge here and call a bottom that can be traded.
Far to many traders have became bearish. The masses love to sell into the panic. Being profitable usually means being in the minority.

Momentum indicators are showing a bounce is due. I think the bottom is close.
I went long at 1248.80.

NASDAQ trade got stopped out at 7100 for a nice profit. See here.

The Pound reached its target of 1.32. The double top has completed its pattern.

First took the NASDAQ long position here. Details along the way are here and here. Now is the time to move the stops up and lock in a profit.

Move stop up to 7100. I will exit trade at 7500, although it measures to 8000 I will be sitting on 10K profit per contract and I wont be able to resist to exit.

Here is where I see potential trade setups.
The German stock index DAX might be making a H&S top or, even better, a failed H&S top.

The Aussie Dollar is in a rectangle formation. I will take a trade if it breaks out in either direction.

The New Zealand Dollar, which we made a nice profit shorting not to long ago, is in a rectangle formation on the weekly chart. I will take a trade if it breaks out in either direction.

Lean Hogs is still making a massive H&S bottom. My only issue with lean hogs is it loves to gap up and down. This could cause sleepless nights for you.

Finally, I present to you the most boring market in the world. The grain market.

It has been a long time since any of the grain markets have made any chart formations.

Update to the British Pound short position. As discussed here and here, the British pound is still moving toward its 1.3200 target. I have moved the stop to lock in a small profit. On May 29th the Pound made an inter-day low at 1.3215.

That is 0.0015 away from my limit order. It than made a 180 back to 1.3418. There is nothing more frustrating than getting a few ticks from your target only to have it turn away.

Update to the NASDAQ trade. The NASDAQ took out the left shoulder.  It will now challenge its all time high.

The S&P500 and DIJA are still consolidating.

Below is a mid year review of the trading performance for 2018. This is based on a per contract trade.

Symbol	Position	Price Position Opened	Price Position Closed	Percent Change	Profit/Loss per contract
BTC	Short	15144	10000	51.4%	$25,720.00
CHF	Long	1.0779	1.05	-2.7%	-$3,487.50
CL	Long	58.97	63.68	7.4%	$4,710.00
CL	Long	66.7	71.53	6.8%	$4,830.00
Cocoa	Long	2302	2536	9.2%	$2,340.00
Feeder Cattle	Short	138.25	142	-2.6%	-$1,875.00
JPY	Long	0.9438	0.922	-2.4%	-$2,725.00
NG	Long	2.622	3.208	18.3%	$5,860.00
NG	Long	2.574	2.82	8.7%	$2,460.00
NZD	Short	0.7115	0.6997	1.7%	$1,180.00
USD	Short	91.76	90.59	1.3%	$1,170.00
Total Realized  Profit/Loss Futures				97.1%	$40,182.50

 

I watch the USD very closely. However, I missed a great trade that developed in the middle of April. It was not until the end of April until I realized the missed trade. By than, it was to late. Since than, when I put on my “trading hat”, all I can think about is this trade.

In the beginning of 2018, I took a USD short trade which turned out to be very profitable.
The USD than made a H&S failure pattern. H&S failure patterns are when the market looks as though it will make a H&S, than does a 180. My most profitable trades are H&S failures.
This missed trade has been haunting me. Dealing with your emotions is very important when trading. Especially in the highly leveraged futures market.