Volatile? Really? - closed

 Well, what an interesting day. Price seems to be all over the place, so the plan today was to make short trades to close targets and trail my stops with PSAR. Worked OK and am out with a small profit for the day, but almost enough to buy a cup of coffee. 

Looked at charts this morning and noted that there were GDP and Jobless Claims coming out at 0830hrs. So, sat on hands until that time. After the numbers, prices were plunging, so looked at 12-tick reversal, but switched quickly to 4-tick on ZT. At 0835hrs, Sld 1 x ZT@103'037. Using 10 tick stop and normal 40 tick target. 


Used a 3M PSAR to trail my stop and lock in some gains.

At 0911hrs, Bot 1 x ZT @ 103'028. Good trade; continued to trail down stop. I followed my plan.


At this point, perhaps heady from the huge profit I made ($50), I decided to look at the other notes. The ZN was setting up for a Fib retracement, so decided to get in. Price had already retraced into the 50-61% zone, so put in Sell stop 1 tick under the 50% level to get me in as price came back down (if it would). Maybe something to note at this point is that the Standard line works well to show a 50% retrace.

Well, price did fall below 50%, so at 0922hrs, Sld 1 x ZN @ 114'125. Ten-tick stop and targeting the LOD for profit.


I was going to use the 3M PSAR to follow the stop again, but it had not switched to above yet. So, used 2M PSAR to trail my stop. 

Price didn't really move anywhere. I was up $50 at one point, but it continued to come back to '125. Stop had been moved down to '135 and was hit there but filled at '130 due to a quick move. 

At 0959hrs, Bot 1 x ZN@114'130, for a 1 tick (+ commissions) loss.


I followed the plan, except for getting into the ZN. I said I didn't want to do this as it is messing with my head a bit. But it was the one set-up that seemed best. I did have to walk away every so often to let price do what it would, so I couldn't mess with it. 

Overall, good trade that followed the plan set out.

Looking forward to some of the volatility decreasing, so the moves aren't so violent. As I write this at 1030hrs, here is what the ZT and ZN charts look like:



Looks like quick in-and-out trades were the best for the day. Capital saved to trade another day. 🦸‍♂️

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