I still can’t figure out what is going wrong. Technorati just can’t get my updated post since August. Though I have made some recommended changes such as adding “rel=bookmark” etc. Well, it still doesn’t work. Enough, I am not going to waste my time on this now, it is time to hit the gym.
Blog and Rants
October 2006 : Week 2 review
Dear diary
Before I leave home for coffee and movie “The Departed”, here is my result of the week.
The trade on Friday, the 13th, it turns my weekly result from red to break even. Only 3 trades were made this week. Two losers with 1-R loss each and one winner with 2-R gain.
Nothing much to write about for this result. At least, I managed to close the week in black. I am looking forward a better trading week.
Postmortem 13-Oct-2006
Dear diary,
So bulls just don’t want to give up. I can’t remember when did I start hearing or reading about ‘We are overbought‘, ‘We are deeply overbought‘. Right now, the market proves again my own philosophy , ‘High will get higher, cheap will get cheaper‘. So, next week we are going to see profit taking, so next week we are going to push the index further, or so now we are really super overbought…argh…WHO CARES? I don’t care.
There was no trade that got away today. The only low risk dummy setup was NQ trade which I managed to got in with 2.09-R gain. I need to be confident with every trade I made. My own judgement is the best thing I can rely on when I am trading.
It is Saturday again. I am going to catch a movie later, and maybe visit the latest and biggest mall in Singapore Vivo city. I will forget everything about trading today. Time to relax.
Dummy day trading #34 13-Oct-2006: NQ Long trade closed
Long position of NQ was established above 9th bar high. I closed that position at 17th bar, with 2.09-R gain (+6.5 points in NQ). I closed the position at Fib extension 38.2% as it is 2am in Singapore.
That’s a better way to end the week.
Trade score :1 – Target hit
Execution score: 1 – Followed trade as dictated in my plan
- Is the trend up or down? Would you be looking to get long or short this futures contract? Trend is up. Looking to get Long
- Where would you get long/short this futures contract ? Above high of 9th bar which is a narrow range bar, above opening range and moving average.
- Where would you put the initial protective stop? Below the low of entry bar
- Where would you exit the position? Fib extension 38.2%
Nice song
ok, I don’t really know what has the Taiwanese president done. I am not interested. I got this video forwarded by my friends in Taiwan. This is the theme song of the anti president camp. Well, forget about the political problems, this is a nice song. I always have no political stand, all my life.
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Postmortem 12-Oct-2006
Dear diary,
After getting stopped out in YM trade, I stopped trading for the day since it was around lunch time. I continued drafting my business plan.
Market ran way without me in the afternoon. I have just posted charts in “Trades that Got away“. You know , there were 5 of them, and I didn’t get any of them! oh well. What do I learn from this? There is no problem with dummy trading, one should not complain about a trading style, instead, the problem is with THE trader himself. Ok, market condition might affect my performance, but that’s not the main cause.
My recent trading performance stalled, and it is longer than I expected. It is a psychological challenge rather than financial damage. I should pat on my back for controlling my losses to minimum. Instead of sinking into deep thinking all the days, I am spending my time to really write down my trading business plan in details. Yup, in great details. I know, as long as I can get through this bad period, I will be stronger when good days come.
I just need to continue my dummy trading, strictly follow the rules and setup that I have written down. The rest, I will leave it to market.
Alrite, it is time for me to pop in multi-vitamins again.
