There were a total of 9 trades that I may have taken. A few more setup according to the TICK entries but were not good due to the price location, market situation and gut feeling...yes, the gut still plays a part, a smaller part than it used to though.
As I start to type this entry I see a final setup in the last 20 minutes of trading that I would like to trade, but prudence tells me to stay clear. The EOD volume is not as high as normal so I SHOULD be able to get in well and get out safely...but it is the end of the day afterall.
Actually, the day has been low volume overall. seeing as this is a consolidation after yesterday's runup I think that this bodes well for the bears. Personally I don't really care which way it goes as I would just like to be able to profit from the moves, trending or slow range bound are looking like the best for me right now to practise in.
Here is the TICK chart: setups are green arrows and trade triggers are black.
I checked the price entries based on the TICK spikes at the triggers and fudged about 2 cents or so against me and used tight stops due to the nature of the range trading today. The results are as follows:
SDS, 6 trades. 1 loser. $1.19 per share gained overall or 2.25% based on average price.
SSO, 3 trades. 0 losers. $0.42 per share gained overall or 1.56% based on average price.
So, single lots of both gross return of $162
Optimum position sizing of 200 SDS and 400 SSO would yeild $410
Fudging 30% against me puts the single lot return at $113 and optimum at $287.
Oh, commissions would be $90 and all these figures are in US dollars so I see a bit more at this time
I'll feel better when these are actual real trading results.
Jeff.
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