Hit stop-loss:
Thirty-nine M6BM5 contracts sold at a price of 1.2891.
One single red bar killed the momentum of the upward climb.
Checklist:
Was it a planned trade? Yes.
Did I stick by my rules? Yes.
Am I back to a calm state? Yes.
Mind reset… Done. On to the next trade.
TMT
Position added:
Sixty-six METJ5 contracts sold at an average price of 1764.507576.
SL = 1990.0
Total METJ5 position is now short 200 contracts.
Stop-Loss for the entire position is now at 1990.0.
TMT
Position added:
Five M6EM5 contracts bought at a price of 1.1067.
SL = 1.0857
Total M6EM5 position is now long 17 contracts.
Stop-Loss for the entire position is now at 1.0857.
TMT
Position added:
Twelve M6BM5 contracts bought at a price of 1.308.
SL = 1.2894
Total M6BM5 position is now long 39 contracts.
Stop-Loss for the entire position is now at 1.2894.
TMT
Position added:
One MESM5 contract sold at a price of 5408.5
SL = 5665.5
Total MESM5 position is now short 3 contracts.
Stop-Loss for the entire position is now at 5665.5.
TMT
New trade:
One ZNM5 contract bought at a price of 113.078125.
SL = 111.671875
Total ZNM5 position is now long 1 contract.
Stop-Loss for the entire position is now at 111.671875.
TMT
New trade:
One ZFM5 contract bought at a price of 109.40625.
SL = 108.43750
Total ZFM5 position is now long 1 contract.
Stop-Loss for the entire position is now at 108.43750.
TMT
Hit stop-loss:
Six MHGK5 contracts sold at a price of 3088.8.
I made a blunder. On the order tab in the IBKR app, there is a toggle for “Outside RTH”. When enabled, this means the order will be executed during and outside regular trading hours.
The futures markets trade round-the-clock 24/5, except for one daily hour of maintenance by the exchange. Hence, there should be no regular or non-regular trading hours to speak of. It isn’t clear how IBKR defines the trading period.
Because I did not activate this setting, my stop-loss order was not filled when the gold future price nosedived during early morning Eastern Time.
I was reviewing the positions when I caught this anomaly. I immediately sold the position, as dictated by my trading plan. Luckily, the fill price was not far from my stop-loss price. I got away with a loss of a couple of hundred bucks more than intended.
I now know better.
Checklist:
Was it a planned trade? Yes.
Did I stick by my rules? Yes.
Am I back to a calm state? Yes.
Mind reset… Done. On to the next trade.
TMT
Position added:
One MESM5 contract sold at a price of 5537.
SL = 5747
Total MESM5 position is now short 2 contracts.
Stop-Loss for the entire position is now at 5747.
TMT
Position added:
One ZMK5 contract sold at a price of 284.7.
SL = 293.7
Total ZMK5 position is now short 2 contracts.
Stop-Loss for the entire position is now at 293.7.
TMT
The Mechanical Trader 