While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
Position: Short Oil Futures @ 100.20
We were filled on buying 2 shorts (1/2 the position) back in @ 99.70
Buy 1 Oil Future @ 2:58 CDT..this is just as the NYSE closes stock trading.
This leaves us Short 1 Future or 25% of our original position.
Place an all session order for Sunday night to
BUY 1 CLEK 100.20 Stop
1) You are now canceling your OCO order
2) You are Buying 1 Future or 25% of your short position just before the NYSE close.
3) You are placing a trailing buy stop for the remaining 1 Short Future Contract to run Sunday night into Monday.
For those of you who do not wish the weekend exposure, Buy both shorts in and have a nice weekend
January, 2014 MediumTerm Outlook-1st-qtr-2014/
For Glossary of terms and abbreviations click here.
