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Futures Trader ifihadwings

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Join Date: Apr 12, 2013
Last Session: Apr 24, 2013

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Posted by ifihadwings 2013-04-12 17:55:49:

Got up a little late about 8 EST. First look at the market saw less weakness than I expected. So I waited until the first 10 minute cash trade of the ES. I was fresh, confident, disciplined and I took my first trade shortly after the open near the HOD short. In less than 30 minutes I made my daily goal and my trading rules are to shut the computer down and no more trading.

Once again I broke my rules and paid the price. I battled the market the remainder of the day...overtrading....ugh!! At one point down twice my daily goal. Took a deep breath...regrouped...lowered the number of contracts and did more scalping for 6-8 ticks each. At EOD I had paid $150 in trading comm. and was only up $100 bucks.

Glad tomorrow is Sat..then Sun and I will be ready when market opens 18:00 EST Sunday with this journal entry in front of me. Greed and fear. In my case it was arrogance and I got cut down to size.

On another note I noted divergence again in the Russel and the Nasdaq and DOW. The VIX continued lower but the cash emini did not rally back to open.

Is it the VIX or the Nasdaq?

Is it because put vol is increasing as hedge for current positions.

I am not buy and hold so I need help understanding what is happening. Crude for me has been on a roller coaster for the past two days. Yesterday Crude, Russel, Dow and Nasdaq all joined in on the party.

Why the divergence today. Bad numbers, Friday and long weekend should spell SELL but market watchers that continue to short this market are met by paper still buying the bid. Maybe sit on hands for a few days and let the big boys shake out what the hell is driving this market up. Maybe short covering everyday???? HA!!Nope!

FULL RISK DISCLOSURE: Futures trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

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