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Gav's trading blog - Perseverance, Consistency, Confidence

Trading Journal

Gav’s Morning Coffee 23-Jan-2007

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I am looking at NQ. We have some selling in the premarket. From daily chart of Nasdaq, I am interested in watching if we can stay above trend line. From 60 min chart of NQ, we are still in downtrend with Adjusted TRIN stays negative and from buyer/seller indicator, sellers are still dominating.

Previous High: 1813

Previous Low: 1783.25

Slightly negative view, but I doubt bears are strong enough. Let’s see.

[photopress:dailychartcashmarket.jpg,thumb,alignleft][photopress:NQ60minafterclose.jpg,thumb,alignleft]

No trade 22-Jan-2007

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That was a boring day for NQ trading. Though it did break the support level that I was looking at, I have no valid entry setup after that. I called it a day around lunch hour. No trade. Here is the full picture after closing bell.
[photopress:NQfulldaynotrade.jpg,thumb,pp_image]
I do not intend to start another strategy for Futures trading now, instead I will stay with my current style of trading , be patient to wait for opportunity and complete my 100 dummy trades. As a supplement to my trading, I am starting my stocks options trading studies. Basically I know nothing about Options. So I will start seaching for reading articles, books and trading strategies. As usual, all educational materials will be posted here.

Gav’s Morning Coffee 22-Jan-2007

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I am looking at NQ. We have some buyings in premarket, however, I am not really positive for the moment. Daily charts, we had a small range candle last Friday, and closed at moving average. 60-min chart, we are at support level 1800.75, and it is kinda negative from the view of Adjusted TRIN and Buyer/Seller indicator.

I am waiting for the break of the support level before start looking at short opportunities.

  • Previous high 1815.50
  • Previous low 1800.75

[photopress:NQdaily.jpg,thumb,alignleft][photopress:NQ60min_opening.jpg,thumb,alignleft]

Review week ended 19-Jan-2007

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I thought I might have chance to establish a long position of NQ before lunch, well, pattern failed to form. No trade for this Options expiration Friday.

This week, I did not achieve my target. Only two trades were made with 1 break even and 1 loser. It was a short week with options expirations going on. But these should not be the excuse for this result. I guess the possible problem might the trade on 17-Jan-2007 , I was too eager to entry a trade while it was still in trading range.

Anyway, it doesn’t help to think too much over the weekly result, as there were just two trades made.

Summary

  • Total P/L (after commission): -1.08 R
  • Trades taken: 2
  • Winners: 0 (0.0%)
  • Loser: 1 (50%)
  • Break even: 1 (50%)
  • Expectancy: -0.54
  • Biggest winner (after commission): none
  • Biggest loser (after commission): -1.09 R

I will be traveling to Malaysia tomorrow, so no posting over the weekend.Have a good one.

Gav’s Morning Coffee 19-Jan-2007

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Options expiration Friday. I might be trading , I am not sure. I would like to see a strong trending opening before deciding if I am going to jump in. While there seems to be a strong interest in Futures trading in blogsphere, I am ,in fact, start looking at options trading. 😉 I am looking at short term options trading on stocks. Of course, my focus is still in Futures. I am trying to study some basis now. John from theessentialoftrading.com did a nice video on stock options trading. check it out.

Tradestation releases build 8.2. I am still downloading.

OK, back to market. I am looking at daily chart of Nasdaq. We have some pull backs in Nasdaq as expected. Now I am interested in watching if moving average is supporting it. I am staying neutral. Premarket is showing flat. We had 3 down days consecutively.Today might be a choppy or flat day. Maybe it will form a nice dummy spots in daily chart? 60 minutes shows me negative pictures and sellers are still dominating.

I might instead spend time reading options stuffs and play around with Tradestation.

[photopress:NQ60premarket.jpg,thumb,alignleft][photopress:cashmarket18Jan2007.jpg,thumb,alignleft]
I was talking to a colleague from China (He is not a trader though), he mentioned to me , in China, colors of price bars are opposite to what we are reading here. Meaning, RED for a up bar, BLUE/BLACK for a down bar. You know, Asian, especially chinese, Red represents lucky, prosperity and …every that is good. Uhm…So, I guess I gonna change all my candlesticks color in the Chinese way. LOL.

No trade 18-Jan-2007

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I did not have an entry setup during the explosive move in the opening. Feeling tired. I will call it a day since this is options expirations week, and NQ is staying flat since 1030am (NY time). I am out today.

btw, please cast your vote at the side bar. I am alway curious how many of us, traders, care about Options expiration Friday. Vote!
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