A new order entry program is being developed. It uses the popular DOM (Depth of Market) grids as the main GUI to visualize the whole order entry and management process, speed the process up and reduce occurence of entry errors. Most of operations will be done with a single mouse click. The first release will support bracket orders. More sophisticated position management techniques such as scale in/out, time stop, changing stop to trail stop once reaching certain target, market chasing, etc., will be added later.
Tag Archives: Position
ES
1.25 point. Two shorts at 1057.25 and 1057.5. Covered both at 1056.75 before GLOBEX nightly shutdown. Original targets were set at 1056.5 and 1056.25, but it’s not worth of uncertainty leaving the short position over next session. Session low was 1056.25. There were fills at 1056.5 at this writing, but my order was not at the head of the queue anyway.
ES
1 point tonight. Two shorts: 1046.75 and 1046.5. Covered them at 1046.25 and 1046. The stop was set at 1048.5 way above recent high 1047.
It’s been profitable on ES front although scalping is just picking the pennies. I may venture into swing trade over a few days or a week horizon. What would be the target and stop for swing trade? I guess I would risk no more than 1-2% of the capital on each trade. The setups will be two: trend following using SMA 5 and 20, and Bollinger Bands/Slow Stochastic. I’m using the same setup trading other stocks and options.
Bot SUNW Jan04 at 4.05, rolling over Nov contracts to Jan.
Other than a long position on SUNW, almost 100% is in cash right now.
ES Scalping …
Tonight, 4 round-trips (two longs and two shorts), all winners. Gained 2 point in 1.5 hours. ES moved back and forth between 996.25 and 995.
BTW, scaled out QQQ Oct 32 Puts opened a while ago. It’s a losing position, but this recent drop is definitely an opportunity to reduce the loss.
ES
Covered short position @ 992 early this morning. P/L: 1. Wanted to be flat before the open. Short term support is around 990.