Trading Log: 4-10-18 Real Trades, 6 contracts, $50 before comissions

Tradingview trial ended and to continue getting the data I desire through them would cost an extra $360 per month, so I've had to discontinue the extreme short-term tactics I was using.

Bitcoin was forming a symmetrical triangle and broke out with volume. In anticipation of breakout I placed order to buy 2 contracts at 6790 stop limit 6800. Fill at 6790. Then placed stop order at 6750 immediately. Price went up for a bit to 6850, then began to decline, so sold market sold one contract and was filled at 6830 for $40 profit. Then modified stop to sell remaining contract at 6730...where I think I'd be clearly wrong about the trade but protected from the majority of shake-out moves.

Price is currently consolidating around the 6820 level. I plan to move stop up when/if price moves upward out of consolidation area.

Profit target is just before .618 retrace, where I project price will be close to running into the edge of the 45M chart trend line (trade from 15M chart setup) at 6950.

Now moving stop loss a $5 below bottom of consolidation: 6800, as price is making slightly new highs. Must wait or a conclusive breakout of the consolidation to move stop any higher, however. Moved back stop $10 to 6790...just to give the formation room. Think there's a danger of getting stopped out at 6800...but that's as low as I'm moving it for sure.

4PM Central Time update: closed 2nd contract at, ironically, @ 6830...tried to get a higher fill but alas market just wasn't moving for last 30 minutes. Price simply remained in the consolidation pattern and wouldn't go anywhere. I didn't want exposure for the hour trading is closed on all these futures contracts.

As can be seen, trade would have met my 0.618 target but my stops would also have been violated beforehand. It's a tricky business setting stops it is.



Spotted another potential opportunity, this time in Gold. Gold was running up against a resistance line and I sold short limit at 142.3. Started to go my direction at first and moved stop from 142.8 to 142.6.

I then checked the dow jones futures...and to my horror they were failing...breaking out of a broadening type formation. Yet even though I had maybe 30 seconds when the DJ was really starting to break down before my stop was hit, I hesitated on flattening the position, hoping things would turn around. Sure enough, GC moved inversely to YM and I was stopped out at at -$30 (fill was 142.6).

Obviously the thing that gets me is I could see the failure coming and I didn't get out. In fact, I should have taken a bit of profit (which I had most of the time) and sold short YM instead!