Dear diary,
Unexpectedly, I am working in office now. This is a real technical issue. And I am cracking my head now. So , no trading today.
Postmortem 05-Oct-2006
Dear diary,
No dummy trade for the day. After watching YM as well as NQ moving around OR (opening range) in 15-min chart, I hesitated to get in Long position. Indeed, they broke out from the range only in the afternoon.
People were waiting for the tomorrow’s NFP(Non Farm payroll) report.
No fun. It was a boring day. I made one squeeze trade with 1-R loss. That’s a small R. So no big deal.
Since my choice is pretty limited for stocks index( now, only NQ, YM , ER and ES) , I need to implement different trading approaches to squeeze some profit out. This is going to take some time.
Quality of trade is something that I need to take care. Blindly get into any setup is not something I am interested in doing.
By the way, Mercado de Estoc?stica is another blog that I found to be excellent. He showed his real trades. His approach is kinda similar to Trader-x. I learnt something from them.
Ok, enough.
I will trade better.
Moron scalp trading #3 05-Oct-2006 YM : Long trade closed
There was a squeeze trade setup in YM this morning, I took the trade. YM broke out from squeeze channel (bolinger band and keltner channel) with momentum trending upward. I went long with 10 point stop loss. Took bad, I was stopped out with 1-R loss.
[photopress:YM_squueze_trade_closed.jpg,full,pp_image]
Trading diary: 05-Oct-2006 Thursday ???
Dear diary,
Let’s look at what is going on in the first 30 minutes of regular session. I see rather flat opening. Volume is good. NYSE TICK stayed above zero most of the time while TRIN stayed above 1. I don’t want to predict direction of market, I will see what can I do later. Overall, I am not bearish though.
btw, tell you a secret. First mistake of the day, I sold the wrong contract!?! I was supposed to sell YM and accidentally sold ES. With 2 ticks loss. (this kinda mistake is unacceptable, I was lucky, my account did not allow me to trade big volume). Ok, you may laugh at me now.
Links: Trader’s development
This series of posting is to keep track of articles that I have found to be useful to my development as trader.
Here is the top ten trading readings in my del.icio.us
- ? Ignoring Your Inner Voice: Trading with Conviction Can Prove Profitable
- ? Diagnosing the Trader: Enhancing Performance Through Self-Assessment
- ? Putting Candles to the Test How Profitable Are They Really?
- ? Finding the Value in Losses
- ? So, you want to be a trader?
- ? How to Tell If You Are a Good Trader ? Move the Markets
- ? dummyspots.com ? Other People?s Money (OPiuM)
- ? 10/11/02 The “Holy Grail” Trading Technique
- ? TICK discussion by DayTradingCoach.com
- ? Home base: Is yours a Good Fit for Trading?
Postmortem 04-Oct-2006
Dear diary,
It was a good day for stocks traders, but not for me. I did not have any dummy setup in NQ, YM and ES before 12 noon. I decided to call it a day without making any trade as I was physical exhausted, I guess the flu virus and haze in Singapore start to attack me. Opportunity for Squeeze trade appeared in the afternoon session around 2pm NY time.
