History repeats itself again, I have a reddish Monday. Short position of E-mini Nasdaq was established below 930am (chicago time) candle. And I was 2 ticks away from my break even point. 2-ticks , so near , yet , so far.
One trade closed with 1-R loss.
John Carter from tradethemarkets.com did a good review of a number commodities, interest rate and index futures. Market reviewed includes : Bond, Dow Mini, S&P, Gold, Silver, Oil etc.
Here is the video
Here is a snapshot of next week’s econmonic events. Pretty peaceful week.
Weekly Economic Calendar
Date ET Release For Consensus Prior Aug 23
10:00
Existing Home Sales
Jul
6.58M
6.62M
Aug 23
10:30
Crude Inventories
08/18
NA
-1607K
Aug 24
08:30
Durable Orders
Jul
0.0%
2.9%
Aug 24
08:30
Initial Claims
08/19
NA
312K
Aug 24
10:00
New Home Sales
Jul
1100K
1131K
It is time to review result of this week’s trading. It was indeed a bad week for me. Negative begining, facing discipline problem, missing trades and close a losing trade on options expiration day. However, I closed the week in black again .
This week, in fact, I had more losing trades than winning trades. I was lucky, profit was big enough to cover the losses. The importance of let the winners run is shown. If kept taking small profit instead of giving some space for the winners run, I would most probably end the week with loss.
So far so good for August. Next week is the last week of the month Another 9 more trading days to go (that’s 1 1/2 week to go). My objective for the coming week will be ‘Stick to the darn rules, stupid!’
Though I did read the cautious words from Mike’s blog about options expiration, I decided to trade if any dummy set up was found. Short position of E-mini Nasdaq was established below 10am (chicago time) candle. It took 1 hour to stop me out. Darn! However, everything was done by following my rules.
One trade closed with 1-R loss.
Technorati Tags: E-mini, Nasdaq, trading journal
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This is the result of let your profit run. Long position of E-mini Nasdaq was established above 9am (chicago time) candle. After closed Dow Mini position prematurely, I have decided to let E-mini Nasdaq position run. Indeed, it was a good decision. Trade closed with nice 3-R gain. I was just too tired at this point of time (mind you , it was 3am in Singapore Zzzzz).
Finally, I am turning black for this week.
This is 30-min chart of E-mini Nasdaq
