Monday Log - EOM & Eco reports Loom

During the weekend, I was able to catch up on some chart reading and EWS website review. I was in a position to watch the Globex open at 1800 and peeked back in around 2300 late that evening. Saw support in the 35-36 area so took a paper trade for overnight. Put on 4 C's (which I am beginning to gradually incorporate into my live trading) with pre-set exits.

After entering in 37's, I scaled out 50% in 40's, 25% out next morning around 0730 in 44's, added 1 C in 44's and took last C from original entry off in 46's. Ended up b/e on added position. Result: +22.0

Not as good results after the regular session began. Was expecting 1/2 gap to fill but missed by a couple ticks. Stop was a bit too high (at MP level) and modified my stop rule so my stops are set no more than angel/demon feet / head respectively and maximum 2 pts. Shorts were squeezed and so was I. result: -7.0

Tried another short in 51's but that too was squeezed. Result: -3.0

From there it was a matter of nibbling back my losses in a market that had lighter volume due to Yom Kippur. Price was range bound for most of the lunch and PM sessions so only scalps were appropriate. Came up short recovering loses but felt comfortable "getting back on the horse" and getting what I could and what the market wanted to give me. 5 trades - Result: +9.25

Today I continued to feel confident even though I had to dig out from a deep hole I had dug for myself. I am revisiting my rules and honing them in order to create a little more discipline with my losses and trade management. I felt the market fairly well today and was "playing" with Mr. Market by scalping for 1-2 points and one final mini-swing trade at EOD.

With end of month quickly approaching as well as major eco reports to be announced this week, I am expecting price games and volatility. I'm ready to go at it again tomorrow.

Trade Well !