Friday, March 22, 2013

One of those bigger trading sizes again...

At least on one occasion, as all other trades you see in the screenshot below have been executed with a rather modest number of contracts, 8 being the second biggest size.

But 28 lots is my new record. I could have piled up a few more contracts, I guess, but I like 28 for it is a perfect number. The second prefect number. The first one is 6.

Don't know what perfect numbers are? Well, that's easy. The perfect number is the number whose sum of proper divisors equals the number. Hence, 6 is a perfect number for 6=1+2+3, and 1, 2, and 3 are all the proper divisors of 6. You can also easily check that 28=1+2+4+7+14, and 1, 2, 4, 7 and 14 are all proper divisors of 28.

Here is another screenshot that features 28 and for the same reason, too.

I admit that I chickened out a bit and closed that 28-lot position with only 3 ticks of profit, but it was also a bit late in the day, and I did not want to end up with a size that big overnight. Or take a big loss. It turned out however, that 5 ticks (or even 10, for that matter) were possible with this trade, so it was not a total fluke. Not at all. I was betting on the price to bounce off of some "magic line" in the 5-minute chart, at the worst and latest, and that's what it did eventually. That happens relatively often in strong trends.

The above results come from yesterday, March 21st. They are due to the trading methodology known as KING, which is the main part of an e-mini day trading course of the same name. The contract traded is YM, the Dow e-mini futures. The screenshot shows trades as listed by Bracket Trader, a trading platform that I use for my trading via Interactive Brokers.