Early Morning Range Breakouts using time and sales

This is a discussion on Early Morning Range Breakouts using time and sales within the Trading Journals forums, part of the Reception category; Originally Posted by robocop PCAR Long 1000 @ 39.71 Stop @ 39.63 Stopped out @ 39.68...

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Old May 11, 2012, 7:32pm   #65
 
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Re: Early Morning Range Breakouts using time and sales

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PCAR Long 1000 @ 39.71
Stop @ 39.63
Stopped out @ 39.68
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Old May 11, 2012, 7:41pm   #66
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread QSII Short 1000 @ 30.08
Stop @ 30.20
Carefull with 30 level
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Old May 11, 2012, 7:46pm   #67
 
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Re: Early Morning Range Breakouts using time and sales

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QSII Short 1000 @ 30.08
Stop @ 30.20
Carefull with 30 level
Indeed stopped out
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Old May 11, 2012, 8:48pm   #68
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread QSII Short 1000 @ 30.03
stop @ 30.14
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Old May 11, 2012, 8:52pm   #69
 
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Re: Early Morning Range Breakouts using time and sales

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CRZO Short 1000 @ 28.93
Stop @ 29.12
Out @ 28.68

Last edited by robocop; May 11, 2012 at 9:18pm. Reason: typo 26.68 -> 28.68
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Old May 11, 2012, 9:08pm   #70
 
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Re: Early Morning Range Breakouts using time and sales

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QSII Short 1000 @ 30.03
stop @ 30.14
Bailed out @ 30.03
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Old May 11, 2012, 9:37pm   #71
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread Daysummary

trades-05-11.jpg

crzo2.jpg

pcar.jpg

qsii.jpg

Friday afternoon, difficult to trade early morning breakouts.

I have widen up my proscreener filter a little bit, so lower ATR stocks are available too.

CRZO went slowly but steadily lower. I did stay a little longer than I should have (break of ema).

PCAR were a bad trade.

QSII caught me, next time I surely wait until the 30 level has broken. I was anticipating instead of looking at the chart/time and sales.
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Old May 11, 2012, 10:39pm   #72
 
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Re: Early Morning Range Breakouts using time and sales

robocop started this thread Summary with money management applied

I was wondering if I am making money trading this system even with commisions.
In practice I should use a money management strategy, ie a fixed risk per trade.

I have worked this out in a spreadsheet.

trades-money-management-100.jpg

The commisions structure of my broker is $ 0.02 ct / share, with a minimum of $ 15. Thus a minimum of $ 30 per round trip (not a very cheap one).

My net loss after commisions is $ -156.

If I change the max risk per trade to $ 200, my net profit goes to $ 369.

trades-money-management-200.jpg

The commisions are eating up all of the profit and should be considered while trading.

Conclusion: the system is profitable but only by trading of a minimum of $200 fixed risk per trade. Of course If I learn to trade better, then the minium could be lowered. Finding a cheaper broker could help to a fair bit.

Last edited by robocop; May 11, 2012 at 10:55pm.
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