Though we had some sell off during the opening, I did not find much trading opportunity. Instead, I saw a new uptrend cycle was formed. Long position was established around 1010am. It was a bull flag (more on chart patterns later) combined with my dummy setup.
Dummy Collection
Dummy day trading #48 29-Jan-2007: NQ short trade closed
Lack of patience today, I took a lousy setup this morning, and I was punished. After waiting for around 90 minutes after opening bell, I saw a lower high in NQ futures. I took a short position around 11am (NY time), although my indicators are showing me a choppy day. One trade closed with 1 […]
Dummy day trading #47 25-Jan-2007: NQ short trade closed
I made a execution mistake today. Short position was established at 1120am. It was a slow start. Market started sold off after 1130am. However, I was being a Chicken. Instead of letting the profit run, I covered the position with only 1 R gain. That’s a shame. Poor plan execution. It should have been a […]
Dummy day trading #46 17-Jan-2007: NQ Long trade closed
Long position was established around 1135am, after watching higher lows were formed in 5-min chart, and NQ seems to be supported by yesterday’s low and moving average. Entry order was triggered by a spike of price and I was stopped with 1 R loss at the next bar. Trade summary Long above the high of […]
Dummy day trading #45 16-Jan-2007: NQ Short trade closed
In contrast to my morning analysis, I saw a new downtrend cycle was formed. Short position of NQ futures was established at 1030am (Chicago time). It was a nice candle pattern and resisted by down trending moving average. I moved my stop to break even after position was gaining 2.5-R. However, market reversed with a […]
Dummy day trading #44 12-Jan-2007: NQ Long trade closed
2nd trade of the day. Long position was established at 1215pm. That was the first pull back of new trend cycle. After getting stopped out in the first trade, I was extra patient to wait for a quality entry. Here it is. Small R. I trailed stop according to my plan and get stopped out […]