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Gav's trading blog - Perseverance, Consistency, Confidence

Trading Journal

Gav’s Morning Coffee 18-Jan-2007

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Options! expiration Thursday. Options! I don’t know Options!

I am looking at Nasdaq daily chart, It looks like we are heading to 20 SMA. Coincidentally, Downtown trader is kinda sharing the same view. From 60-minute chart of NQ, trend started turning down and sellers kicked in. So far, I am interested in looking for short opportunity today. But who knows? There might be some surprise.

I will be trading today. But, I will try to be very cautious, since it is Options! expiration Thursday, I don’t know what’s gonna happen today.

Another note, my site has been down every day around 4am (NY time) since last week. And the technical supports just can’t fix the technical problem. Oh well, Time to look for a better trade, since I can get back refund of my remaining subscription. So if this site is down again, you know why. Now, on the quest of better hosting firm.

Dummy day trading #46 17-Jan-2007: NQ Long trade closed

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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 1130am(chicago time) candle.
  • stop loss is set below the trigger candle
  • Trade was stopped out.

One trade closed with 1 R loss.

[photopress:NQ5minClosed.jpg,full,pp_image]

Gav’s Morning Coffee 17-Jan-2007

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We are getting some sell off of NQ in premarket session. We are having a gap down in the opening of cash market. From the data of past 3 days, we have a UP, a FLAT, and today..DOWN? Let’s see if we are breaking out from the small range formed yesterday.

  • Previous High: 1862.75
  • Previous Low:? 1851.5

Patience is always required

Dummy day trading #45 16-Jan-2007: NQ Short trade closed

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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 strong big candle. I was stopped out.
Trade summary:

  • Short below the low of 13th candle.
  • Initial stop loss was set above 13th candle.
  • Stop was moved to break even after position was gain more than 2.5 R. And stop was triggered.

One trade closed with 0 R (after commission)

[photopress:NQ5mintradeclosed.jpg,full,pp_image]

Gav’s Morning Coffee 16-Jan-2007

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There seems to be some weakness in premarket action. At least, I am looking at some selling of NQ in premarket.

Overall, I am still positive on NQ. Opening weakness might provide some opportunity to go long. Patience is required now.

Summary:

  • Previous high: 1863
  • Previous low:1845.5

btw, I have finally changed the look of this site. I hope it does look good 😉

Review week ended 12-Jan-2007

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Well, I achieve my goal, another profitable week. I missed the trade on Thursday, which was a mistake, I was not paying enough attention to trading. I start feeling good of strictly following my game plan. I basically traded with confidence.

I only make 3 trades this week. Two winners and 1 loser.

  • Total P/L (after commission): 2.7 R
  • Trades taken: 3
  • Winners: 2 (66.67%)
  • Loser: 1 (33.33%)
  • Expectancy: 0.9
  • Biggest winner (after commission): 2.84 R
  • Biggest loser (after commission): 1.07 R

Market is closed on coming Monday. Another Long weekend (well, not in Singapore though..)

Have a great weekend!