No dummy trade today since I can’t see any clear trend. Instead, I have made a couple of scalping trades (my BnB strategy). Long ER with -1 R loss, Short ZG with +0.31 R and Short ZG with +0.09 R (break even trade). End the day with -0.6 R loss.
Stocks index futures market still sucks, chop fest. I am focusing in Gold (ZG) market now.
Pretty tired. Chart later, maybe.
Journal note update: ER2 trade was a dumb trade. I was trying to pick oversold bottom during opening. Instead, it was flat till lunch hour and continued selling. DUMB.
Recently, actions in equity futures seems to be delayed until lunch hour. It is pretty tough for me. Well, seems like there is really a need for me to focus more on a couple of commodities. Of course, again, do it one by one. Now, it is Gold time for me. I just love this fellow. So far, March has been a flat month, well, a little bit negative now.
I agree that the volatility seems to be coming in around lunch hour when most traders get bored of watching for setups to occur, and then later you see a breakout with money piling in all at once, and in order to get in you have to react within a minute and chase the trade in order to get in because its hard to say how far the move is going to go. I still sit back and watch for a pullback and safe entries, but it seems like if you get in quick enough you can scalp some of the move. There is definetly an inverse relationship between ZN and ES, I’m starting to learn to watch for these inverse relationships and looking for signals when both pairs show volume when prices are going in the oppposite direction, and then using this as a short term scalp reversal trade. Keep an eye out for this inverse relationship between bonds and the stock market indices.
I agree that the volatility seems to be coming in around lunch hour when most traders get bored of watching for setups to occur, and then later you see a breakout with money piling in all at once, and in order to get in you have to react within a minute and chase the trade in order to get in because its hard to say how far the move is going to go. I still sit back and watch for a pullback and safe entries, but it seems like if you get in quick enough you can scalp some of the move. There is definetly an inverse relationship between ZN and ES, I’m starting to learn to watch for these inverse relationships and looking for signals when both pairs show volume when prices are going in the oppposite direction, and then using this as a short term scalp reversal trade. Keep an eye out for this inverse relationship between bonds and the stock market indices.
lifepost,
I read about this idea before, but I did not put in effort to study. Maybe I should start looking into this inverse relationship again.
Thanks for the comment and hope you have a great week.
Gav
lifepost,
I read about this idea before, but I did not put in effort to study. Maybe I should start looking into this inverse relationship again.
Thanks for the comment and hope you have a great week.
Gav