Trading Journal By Richard Roscelli
Tracking orders, winners, losers, thought process
Sunday/Monday Feb 27/28
Sunday Night
Crude Oil rallied in overnight on concerns regarding Middle East, follow through from late session recovery on Friday. Volatility in markets made overnight thought of sell from + $1.77 possible down to +85-+90 range. Would have placed stop at +$2.10. Remember to consider using bracket order funcion with your electronic trading platform.
Monday Trades
Completed two (2) trades. Daily/5 min Keltner bands showed market over sold in March Mini Dow futures in early afternoon. Bought 1 ymh0 @ 12179, Market pullback to 12270. Near term support held, Bought 1 ymh0 @ 12174. Reexamine of market should near term resistance at 12280. Struggle to move through that level began to show pullback. Expectation of marketpullback laer in session. Moved sell limit back to 12178 for both contracts. Sells were hit.
REVIEW OF MY TRADE- GRADE C+
Trade was essentially a scratch. Trade should have been looked at in multi time frame (15 min) for possible signal regarding confirmation of entry point for Keltner Bands and RSI. Buy in near expected pullback to +30 in Dow Futures may have been confirmed by looking at in multi timeframe strategy. Should have
NOTES REGARDING TRADING FOR THE WEEK. Volatility may calm down this week as Middle East chess game loses some of its surprise value. Oil Prices likely to churn in slightly lower range but may regain new pull to upside if developments in Middle East include internal attacks on oil installations. Questions regarding security likely to emerge and become new focus of uncertanity within markets. Focus also likely to turn to jobs as February jobs report is not expected to be allowed a pass as the January report did. Look for possible movement in currencies as Reserve Bank of Australia and Fed Chairman Benanke expected to offer insight into 2nd/3rd quarter rate policies.
Any questions or thoughts, please feel free to email me at richsjet@netzero.net
Talk to ya soon.
Rich Roscelli
