Yesterday wasn’t great. So, I’m going to start today with a review of what I don’t want to keep doing from yesterday. First, let’s just be in one trade at a time. Second, let’s be OK with some larger stops if they are required to prove the trade idea is invalid.
It looks like the market went on to make new all time highs (ATH) yesterday and then more in the Asian Open. But, at the same time GC didn’t drop, which is interesting since it’s normall inverse corelated. ZT (short term treasuries) did drop, so they stayed corelated and might be my inverse play for today because of this divergence. I’m having an extremely hard time getting a feel for the direction I’m expecting (which I probably shouldn’t do anyways).
Here is what I’m going to look at today for short entries:
|Symbol||Entry Price||Stop Price|
[6:20 am] It’s been pretty flat today. MES has moved close to my entry, but hasn’t confirmed the trade yet.
[6:36 am] MES has since pulled back up and away from my entry. It’s not looking like I’m going to be making any trades today.
[6:40 am] I’m going to go ahead and call it for today.
So, I made some calls today, I’ll check later today on how those worked out. I might need to considering changing my trading hours next month if it remains slow during this time.
The good news is that I made more money than I did yesterday.