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July 18th, 2007 by eyal | Filed under Day Trading. |
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Quite a tricky and choppy day. It started nicely with everything getting sold off so I was focusing on short. Half way through the day it all reversed. Two trades stopped out almost immediately - ITWO and PPDI. ITWO had a -0.5R slippage on exit, too low volume to really get in and out safely. In addition quotes on IB weren’t working well most of the morning with stale quotes and locked up bid-ask, so not sure if the slippage is due to that or just the market. Anyway the other two trades PFE and JPM worked for a while before everything rallied. I was up about 3R on the day but in the end it was mostly taken away and I ended up with a P&L of +0.8R.
