I can't believe it has been 6 months since I blogged last time. Trade journal really must be part of my trading business. It's for my learning, improving and succeeding in this business. The process will help me to review my trade setup, studying emotional issues.
Corn futures dropped over 11% during the last two sessions (3-29 & 4/1). I entered a counter trend trade at over night low of 643.5 using mini contract. I misread the over night high due to my Ninjar charts' different start time. However, there is no clear setup even if the o/n high was broken. I guess I was eager to get some kind of action since I haven't had any futures position for 4 days. Greedy is also kicking in trying to catch a bottom bounce. My thought was the RR of 2.7 is attractive with risking $120, but the odds is not high. At mid day now, the grains are pushing down and testing yesterday's low. Looks like a bear flag pattern and 123 move are playing out. I will have to take a stop if corn breaks to a new low. I forgot the 3 day rule also. It's not a right win even if this trade is saved.
I am in ES futures options now. They are additions of my futures trades. I feel that I am more suitable to swing positions than intra-day trade.
My corn has not been stopped yet. No other event today. S&P has set a new high. No fill for my ES options.
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