TF Trades 12/4 (Fri) - Wrap Up

Total: + 1.9 Points

TF 200-tick

I am officially very sick of TF's min charts. Was checking out its tick chart shortly after getting out of my globex hour trade, and noticed that it was nice. That run up before market open was crazy but not unexpected. Had I switched to a tick chart earlier, I wouldn't have gotten out of my scratched position.

But I don't look back, so all's good.

US Session
I had been focusing on the bull flag and for price to break on the upside and didn't even realize that market has opened. When price indeed broke above and didn't look like it was pulling back just yet, I put in a buy stop order to get in at 602.8.

Order was filled when D got back to his workstation. He asked to take over, so I let him. Told him to set a limit order to sell at 605 (target was determined much earlier before trade was entered - I went with Fib 211.8 but chose 605 coz it's a whole number and it's a "5"). When TF got to 604, I told him to move stop to breakeven. The next second, I heard "SHIT".

"ok, good, we got 1 point right?" I figured D had ACCIDENTALLY closed my trade.

"We got 1.1" A very, very remorseful D replied, as we both watched price shoot pass 605.

"YAY!!! SMOKE BREAK!" Like I said, I don't look back.

Even Alberto sensed that D was upset, and came running to console him. I told D that it was alright, that I make mistakes much more often than he does (and my mistakes usually cost us big time). D promises that he will start to get used to using the BookTrader instead. But he was still mad with himself. So I had to tell him that actually I wasn't sure that moving stop to breakeven was such a great idea, and would have probably bailed at 604 anyway.

D's now HAPPY.

Men.

Update: I totally forgot about non-farm until I read Paul's post! But then again, had I gone with tick-chart, I would still have bought a breakout on the upside on both the globex trade and the post-market open trade. It was actually the min chart that got me in too early on the globex trade. Great, I just blamed my chart. Soon I'll be blaming my cat. He wants food and massage everytime I sit on a losing trade.