I am not superstitious, but it was the 13th today …

Took two trades this morning, both longs and both were full 1R losses. Once more I had a choice between a really good setup (KMX) and a slightly suspect one (OPSW) and naturally I went with the more suspect one. With OPSW all I succeeded in doing was getting in near the top and exiting near the bottom. I entered off the 9:45am up bar and ignored the small wick.


In the meantime, KMX eventually went onwards and upwards to achieve its target of 35.08 (I would have brought that in to 35 and a 2R gain).


My second trade was KKD. I entered above the 10:15am hammer but was stopped out in the vicious chop that occurred at 10:45am. I had set a price target of 8.74 (2R gain) which was hit at 11:45am. So, I do not consider this one a bad trade, just unlucky given the degree of chop that took me out.


There were some nice short setups earlier, such as LEA. If an entry had been taken below the 9:45am bar, this would have netted a near 8R gain.


Perhaps I need to consider the type of setup I use depending on the overall market action early on. I am going to see if there is some correlation between the successful setups and the early morning market action so its back to the past trade analysis.