Futures trading today was brought to a rather swift stop. I use a trend following approach to futures trading, so I get quickly stopped out for the day when there is no trend. I limit my losses for the day to a cumulative 2% of futures trading account size. That was nearly hit when I got several false trend signals in a row - this shit happens. Not to worry, my futures trading account is a fraction of my overall trading account for obvious reasons. It happens frequently when we have days like today. But when we get market movement, I have coins and bills falling from the sky. The trick here is to limit the down side while destroying the upside. In the spirit of the blog, I open my books to you the reader below:
Market Range (as defined by the YM futures): 64 Point Range
YM Tick Summary: -111 ticks (-$555 if using a one contract position)
ER2 Tick Summary: -3 ticks (-$30 if using a one contract position)
ZG Tick Summary: -25 ticks (-250 if using a one contract position)
Me and the family are eating cheese tonight. Wait! I banked coin on CNTF and MDVN just shot up 6.5% today....ahhhhh, life is good.
Market Range (as defined by the YM futures): 64 Point Range
YM Tick Summary: -111 ticks (-$555 if using a one contract position)
ER2 Tick Summary: -3 ticks (-$30 if using a one contract position)
ZG Tick Summary: -25 ticks (-250 if using a one contract position)
Me and the family are eating cheese tonight. Wait! I banked coin on CNTF and MDVN just shot up 6.5% today....ahhhhh, life is good.
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