Jul 152014

Today a live trade was made.

Unfortunately, the trade was not as good as I would hope.
Fortunately, it was not too bad.

Two trades were taken.  The first was after a forceful down move shortly after the market open.  A large volume spike was seen on the chart and the market reversed direction.  Several up bars were seen and a trend line indicated further up possible.

After the trade was entered, the market went a tick in our favor but then reversed direction on a comment by the Federal Reserve Chair Person.  The software executed a fixed stop loss protection and a 4 tick loss was in the books.  The chart is below:

First trade at 1971.25 with -4 tick stop

First trade at 1971.25
with -4 tick stop

When the first trade failed the market seemed to want to reverse and an entry short was made.  This trade went in my direction about 2 or 3 ticks and then reversed.  I manually exited the trade with a 1 tick loss.  Had I not taken the stop, the 4 tick stop would have been hit resulting in a 4 tick loss.

After this trade, the market went flat and the Fed Chair Person was still talking so I decided to stop for the day or at least wait until a direction was determined.

Second trade with a 1 tick manual stop

Second trade with a 1 tick manual stop

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