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28 SB SB 60 HIHUTE 1 J I M J I I [ - -I ZZ\ IZ 23 21 30 31 3 1 5 6 7 10 U 12 13 B65 BOO B50 84S BIO 835 B30 825 815 CIO BOS BOO V95 790 7C5 700 775 770 765 7b0 755 750 715 710 I ill . I 1 I I M I 1 21 22 23 21 28 Zg 30 31 3 4 5 6 7 ID 11 12 13 11 B65 B60 B55 850 845 B43 835 830 B25 620 815 810 BOS BOO 795 7S0 705 700 775 770 765 ?6 755 750 745 743 The fifsf bar on the next day brought even greater profits. I moved my Slop tn take advantage of that. My slop was now at 844, proiecting at least haJf the unreali?ecJ paper profits in the trade. The next bar took out my stop at 344, I had costs of $250 in the trade, but had covered those with $63.60 to spare. Add to that the 1276,60 I made on six contracts, and ] had a total of $1340.10, I placed an order to buy a breakout of tiie high of the correcting bar. f considered this bar a correcting bar, because ific trend is stiil in effect due to fact iftat there was a breakout of the high of the bar that made the third segment of the segment count. Notice that as sooi\ as I get a correction, ( begin numbering the segments (jf tfie correction, I afso identify the fiook.
¥ - * zm 23 2i 23 30 31 i s 6 ? \z The nexi bar didnt amouni to a hil! of beans, yet it wds imponaru because it made (tie picture chancje. When tbe rnatket talks, I listen. I now had two segments going down. The market was still correcting. The new inside bar established a Ross hook at a breakout of the previous low, I placed an order to buy a breakout of the liigh of the inside bar. J also placed an order to scti a breakout of the Ross tiook created by this inside bar. Some who have seen my style of trading would say Im an aggressive trader. They are correct. When the market is speaking, 1 get very ciose so I can hear what it ts saying. I want to trap every word. By doing liiai 1 also trap its moves. As the cfiart shows, I was willing to go with the market in whichever way it wanted to go. I want to dance witfi it, I go vs/fuire il goes. B55 845 B4a B35 830 825 B2G 815 BIO B05 80G 795 750 785 7BG 775 77G 765 755 7SG 745 740 SB 60 MINUTE I was short a ten lot at 83 . Average volatility was 15 points. That rtieant ligtiidating to cover costs with two cumracts at 824, However, I did not want to risk 15 points per contract, f feel that 10 points is enough to risk on a sugar trade. Therefore. I had to adjust my lignidaiion price to 10 points as well. At 1 0 points I would have to liguidate three contracts to cover costs, 4 f 1 - <SoM 1 I r 2122 23 24 73 30 31 3 7 10 U 12 13 14 I placed an order to liquidate three contracts al 829 MIT. Prices hit B29 exactly at tlie low of the prjce bar on which I got short, I vas filled at 830 whicfi covered costs with 52.40 to spare. As the bar closed, t liquidated Ifie remainder of rpy position at 834, I had made 5 points per contract on seven contracts for additional profits of 5392. My net profit for ifte day was $444.40 1 assessed the situation as planned for tomorrows trade. Since tfiis was only the third bar of correction to an ufhrend, I would [ilace an ordir to liuy a breakout uf iIig higli if thr. opportunity presentee ilself. 1 didnt really expect to Ite filled. Discipline also dictatcrl I try to buy a l)reakout of the Ross fiook. B65 860 55 B5G D45 840 835 C3Q B25 20 815 BiQ B05 □OG 7% 7% 785 V8Q 775 770 765 760 755 750 745 740
SE 60 MIMUTE i h M zi zu 3i 4 5 7 10 11 12 13 14 17 f got long a ten Jot at 853 as prices took out yestcrcfays hfgh. I got long an additional five lot at 865 as prices aiso look out the Ross hook. Since the Ross hook vas a ijreakout of the highest high of the last throe days, this trade was a randirfate for holding overnight. Average volatility was far too great (or rno to use it for cither my slop loss or my cost liquidation ot)jective. Tfierefore, i used a 10 tick stop for each. Staymg overnight meant placing a stOj loss overnight in th[f Lnndori market. It would either be thai, or exit die trade. Time woutd tel . Once I was long the ten lot at 853, I covered costs at 863, casliing throe of my contracts, I moved my stop loss lo breakeven at 853, Next, I was filled at 86 on a five lot. I placed my cost liquidation objective at 875 and my stop loss at 865. I waited for tfie next tick. Perhaps tins entry will strongly point out the need for discipline arid poise while trading. I go witfi the market, wherever it takes me. I refuso lo jrejudge a market or what it will cio. 070 065 860 055 050 045 840 S35 B30 B25 GZO G15 BIO B05 800 - 785 780 775 770 765 760 755 750 745 22 23 24 28 23 30 31 3 1 7 10 11 12 13 14 17 B66 855 85G 845 840 35 B30 B25 15 BIO 805 800 795 790 785 780 775 770 765 760 755 750 745 When the price bar closed, and die above price bar ofiennd, f moved roy 853 stop to 860 !o protect profits on my ten !oi. I was slopped out there with a 7 tick profit. My ten lot trade firrd made §86.00 wfien I cashed the first three contracts. The other seven iiacl made $548.40, for a total of $634.40. I fiad been unable to liquidatt; and cover costs on my five lot, and because this bar closed with a tower high, I decided to move my stop up to one tick below tfie low at 856.
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