This is the business we have chosen ~ The GodFather, the movie

Dear diary,

I am pretty selective on dummy setup. I do not want to get whipsawed during this pre holiday trading week. (Excuse to take a day off).
Ok, Maybe I was being a coward. I exited the trade early. There were few reasons that prompted me to cover short position of mini-sized Dow early.

• It failed to reach my 1-R break even point gain, and the worst , it was just 2 ticks away. Market was slow and reluctant to sell further.
• After the initial break down, it gave me a doji immediately at the next candle. That disgusted me further.
• The position was opened for around 1.5 hours and going nowhere. FOMC meeting was scheduled at NY time 2pm. People were waiting..
• “Bro, it is pre holiday trading week. In fact ,you are not supposed to trade!”

Well, am I writing something to cover myself from breaking the rules? Maybe I am.(Anyway, this decision was right for this particular trade, market rallied back in the later session).

These are not rules of trade, but some judgement calls under certain conditions.

Dear diary,

This is gonna be a short one. Basically, I did not make any trade today. Monday blue? Definitely no. I was basically too tired with some symptoms of getting flu. The weather in Singapore is killing me.

Ok, Looking back the chart retrospectively, There were dummy setups in mini-Dow and E-mini Nasdaq at 1030am (chicago time). Though E-mini Nasdaq trade would most probably end up with break even. Mini-sized Dow would give a minimum 1-R gain.

I will be kinda inactive this week, due to some personal commitments. Some traders are taking a week off as well, Trader Mike is doing that. However, I will make sure myself come back with full strength in September.

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Dear diary,

It is getting more obvious now, I am likely to end the week with loss. In fact, I am preparing the performance chart now, DARN.

There were a couple of setups appeared in E-mini S&P, mini-sized Dow and E-mini Nasdaq. I chose mini-sized Dow and missed the entry of Nasdaq.

It really involved a little bit of luck here. I chose a bad one. Nasdaq was running without me happily, and it hit a 1-R gain easily. While, the old man Dow was enjoying its strolling. I was extremely tired, physically. In fact, after putting my stop order, I dozed off in front of my screen. Dow was 2 ticks away from 1-R gain, AGAIN!?! , this time I decided to move my stop to break even point and subsequently covered the short position with some very small gain after realising my tiredness.

This is a trading day that my broker is the only one who is pleased. But, at least I put a pause at my string of losses. I will really slow down and strict in stocks index trading now until U.S larbor day. I am shifting my focus to currency trading for the time being.

Time to have some coffee. Let’s fight another day.

I was trying to figure out the best way to deal with my losses. And I see this photo on Trader-X’s blog. Darn! This is what I am looking for.

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