I am back to my trading desk. Here is the latest trend table.
[photopress:TrendTable27Feb2007.PNG,full,alignleft]
Trading Journal
Review week ended 15-Feb-2007: A short trading week
I don’t see any nice setup in this Thursday morning, I decide to call it a day early.
This is a short week for me. I will be traveling to Malaysia on Friday , so no trading. Here is the weekly review. This is options expiry week, and I can’t really find too many good setups. In total, 2 trades were made, one Long trade, one Short trade, and both were winners. This week I continue applying CBL trailing stops technique , so far so good (I used this method when I was trading SIMSCI futures). As this method trails the stop by tracking the most recent high/low, I might end up giving back too much profit when there is a big candle. I will continue studying different trailing stop techniques.
Summary:
- Total P/L(after commission): +4.16 R
- Trades taken: 2
- Winners: 2 (100%)
- Losers: none
- Expectancy: +2.08
- Biggest winner (after commission): +2.15 R
Trend table update 15-Feb-2007
I update the trend table now is because there are some turn around in NQ futures. Now index futures markets are kinda positive. Let’s see the development for the rest of week.
[photopress:TrendTable15Feb2007.PNG,full,alignleft]
Dummy day trading #57 14-Feb-2007: NQ Long trade closed
“What do you want?” I am asking myself after closing the position. In fact, I had two entries to go Long NQ futures. I gave up the first one which appeared around 10am. Reason being I had a bearish view of NQ given longer time frame looked rather bearish. So I decided to wait for bollinger band expansion in 15 minute chart before deciding to go Long.
Finally, long position of NQ was established 10:05am when NQ broke out from flag, which was also the first pull back of new uptrend cycle. However, this entry was kinda toppish. And CBL trailing stop was triggered.
One trade closed with +2.01 R gain. It should be a multiple R trade, but “What do you want?” Be bold, or want more confirmation? Confirmation costs some money though.
Trend table Midweek 14-Feb-2007
We have some positive change in index futures. Other than NQ which looks rather weak for the moment, YM, ER2 and ES are showing some strength.
[photopress:MidWeek14Feb2007II.PNG,full,alignleft]
No trade 13-Feb-2007
It should be a decent day for YM, though I am not trading it for the time being. I did not see any convincing setup in NQ futures today.
Though it gapped up in the morning, and market looked kinda bullish for the day, my conviction that NQ bulls were weak was rather strong, I would only consider short today. I might be right or wrong, at least I did not get chopped by the weak man NQ. No long position, and no short setup, so no trade.
Tomorrow is the last trading of the week for me. I am leaving to Malaysia on Thursday.
