It’s MONDAY!
The market has its own way to operate. It doesn’t care what Michael, John, Richard, J.C or even Gav are thinking. It is like a flowing river, who cares if you are swimming, fishing, bathing or even committing suicide? Everybody get what they want from the river. Get involved with your understanding of the market, and deal with it with a plan, your own plan.
OK. It’s MONDAY.
Have a profitable day.
Another boring day for dummy trade, I did not find any nice entry. I was trying out scalping strategy and basket order of Tradestation. Well, I was stoppped with $50 dollar loss. 😉
Tapeworm at Taleoftape did pretty well this week. Go check out his blog. And of course, J.C, the scalper’s blog is my must-read everyday. You will learn something from him, and…maybe feeling jealous of his performance sometimes. 🙂
I am not posting weekly performance for the time being, as I have made too little trade (less than 5 trades a week). So I will accumulate it and do a monthly review instead.
Hope I got some spare time to catch the new 007 movie today.
I can’t find any nice trend in the morning. And ,I was exhausted, so I called it a day earlier.
Some sell down in the afternoon. Flashing back the charts, still can’t find my setup. No trade,but I won some sleep.
I have been studying some scalping strategies, hope to start couple of them soon. Different from stocks traders, I have to slowly add in strategies to my trading tool box, since my trading candidates are kinda limited.
Time for coffee now…
Prejudice. I always have this problem when I am looking for trade. Today’s action showed my problem again. subconsciously, I was thinking the market “Should’ sell down. The “Should” limited me. I was not flexible to look for other trading opportunity. Because of this ‘Should’, I gave myself a lot of excuses, like ‘ moving avarage is trending down, there were resistance up there blah blah blah’. In the hindsight, I do not think these thoughts are judgement calls, instead, they are excuses to be inflexible.
I am not saying my last stopped out ES trade was bad trade. The trade was established according to plan. But, after the trade was closed, I just can’t switch myself back. I was still in ‘Shorting’ mood for the rest of the day. Looking back at charts, there were a couple of nice scalping setup, should I be not so inflexible.
Mental problem. I acknowledge this problem. I am going to fix this. Fix my own brain.
Well, I received an email from Tradestation this morning. Though I am yet to receive my refund, I am glad with their prompt response. I was informed about the billing issue when I gave them a call yesterday, and, a formal email reply is received within 1 working day.
After reviewing our November billing, we have determined you were billed in error for the TradeStation platform ($99.95) and/or RadarScreen ($59.95). In October, you did meet the thresholds for these fees to be waived. We will process a credit for the amounts you were billed. We apologize for any inconvenience you experienced and we are working to insure this does not happen again.
Thank you,
…..
After gap down, and downtrending moving averages I was looking at short opportunity. I shorted ES, however, I was stopped out immediately. One trade closed with 1-R loss.
I guess this should be the only trade of the day. Good night.
[photopress:ES_scalp_LBR_closed_1.jpg,full,pp_image]
By the way, if you are Tradestation user, take note of your statement, I was charged of monthly fee even though I made more than 10 round turns future trade during October. I have confirmed with Tradestation securities, they are aware of the billing issue.
Long position of ES was established when it pulled back to 20-EMA. I did not take profit when it hit last swing high (It was 1-R gain at this point of time), and it was Pivot R1 level as well. Instead, I moved my stop to break even which was below 5-EMA. I am thinking maybe i should take profit at this point (partial profit taking is not an option to me at this point of time, I am trading 1 contract for ES), and subsequently look for second entry opportunity. Anyway, stop was triggered. Well, too bad. One trade closed with B/E.
At the time of writing this post NY time 1205pm, I found that Tradestation quotes and charts are frozen for the past 2 minutes. After restarting the application, everything seems fine. I don’t know what’s going on again.
Recently I am enjoying trading dummy in 5-min ES. Volatile and bigger tick value comparing to YM and NQ.
