Tuesday, June 26, 2012


A profitable trade. The market looked like it might want to go up based on the 5-minute, 30-minute and daily charts. I used a limit order to purchase 3 contracts for 1307.75 at 0840HRS Pacific time. I used a generous stop of about 3 points and set a sell limit order at 1308.75. The market dipped to 1306.75, before going up.

Risk: 3 points * 3 contracts = 9 points
Heat: 1 point * 3 contracts = 3 points

I sold two contracts for 1308.75 at 0848HRS and raised my stop for the remaining contract to 1305.75 (break-even).

As the market went up during the remainder of the day, I manually trailed my stop for the remaining contract.

Oops. I put in a buy limit instead of a sell-stop. I ended up buying a second contract for 1312.25 at 1754HRS. I noticed my mistake and sold the second contract at 1816HRS for 1312.50. Then at 1821HRS the last contract sold by the sell-stop for 1312.25.

Total profit for today: 6.75 points

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