Thursday, May 10, 2012

Thursday..

Followed the CL and NQ today..bit of news in the morning and Bernanke was speaking..anyway got a long move up in the CL so I waited for a nice pullback but the upmove didnt continue...took a stopout of -15 ticks and the CL went choppy...decided to focus on the NQ as it was moving a bit better, waited for the downmove to establish itself and then took the preferred setup..got crazy slippage as it was moving fast (the red triangle down on the chart was where the order entry system placed the order, the pink arrow and sideways triangle is the fill)..i held as per my trade management rules, ended up taking the first contract off at +16 and the second at +20 for a net of +18, making up for the CL loss and then some...I missed a few good NQ setups as well, might focus on it a bit more and put the CL on the backburner as I've found the CL can move well especially after inventories release, but has quite a bit of chop as well..back in action tomorrow (did not save the CL chart, but posting the NQ which shows the entry and exits)
Now off to help out at my friend's boat rental and jet ski tour business...here is a pic I took yesterday from our dock, gotta love living on an island!

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