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Gav

Postmortem 26-September-2006

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Dear diary,

Well, I was chopped out. Market again played some tricks. E-mini Nasdaq took out my stop level and, in fact, went lower than swing low in 15-min chart. The rest of story is the same, it went up.

Scared? No. Frustrated? Well, a little bit. But, this kinda days are really part of business. I went through again the trade, I just have to take the trade, though I ended up with a 1-R loss.

I browsed through few blogs, though they are trading stocks, most of them were chopped out by market as well. (Ok, I am using other’s pain to console myself 🙂 )

Let’s fight another day.

Know that it?s your decisions, and not your conditions, that determine your destiny.

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Dummy day trading #28 26-September-2006: E-mini Nasdaq: Long trade closed

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Long position of E-mini Nasdaq was established above 10am chicago time candle. It broke out flag pattern and dummy setup was found. BUT,I was stopped out immediately at next candle. One trade closed with 1-R (ok, 1 Z ) loss.

[photopress:Nasdaq_15min_trade_close.jpg,full,pp_image]

  •  Why would you be paying attention to this futures contract ? I see continuation of uptrend in 15-min chart and index surged at 3rd bar. A broke out from flag pattern
  •  Is the trend up or down? Would you be looking to get long or short this futures contract? Up. Looking at LONG only
  •  Where would you get long/short this futures contract ? Above 10am Chicago time candle. It is a NR7.
  •  Where would you put the initial protective stop? Below 10am chicago time candle
  •  When would you stop trading for the day? Immediately after position established or 12noon
  •  Where would you exit the position? Stop loss triggered or profit taking at height of flag pole.

Some photos from Taiwan

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I have done some postings of my Taiwan trip on my other blog. Check it out, if you are interested.

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