I placed an order, buy stop, at 1281.50 on beans. Guess what happened. Order rejected!!!
What happened was that price approached so quickly that Tradestation wouldn't let me place a buy stop order. With no surprise, beans rallied 20 pts, which is $1K. Based on my exit strategy, I would have been able to pull at least 15 pts per lot.
I can say nothing buy whining here.
Today is FOMC day. This is the day I usually stay away from stock indexes. I'll keep an eye on Gold and Euro though. I think markets expect 100 full basis point (or 1%) reduction in the key interest rate, which will likely happen.
I have not been trading well lately. The spread trade I'm in is coming back, but still a long way to reach my target. I'm attempted to get out at b/e, but I risked so much. If I get out at b/e, I'll not be successful in trading.
The Lumber trade is not doing well either due to housing markets. While this is my first position trade (2 year minimum), it's always pain to hold onto a loser.
I'm looking into implement ion a new day trading strategy in ES. This should be a very consistent strategy. I will trade 4 lots of ES scaling out.
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