Dummy day trading #24 05-September-2006: E-mini Nasdaq: Short trade closed
Short position of E-mini Nasdaq was established below 930am (chicago time) candle. It failed to achieve my 1-R gain. Stop loss was triggered with 1-R loss.
Chart was distorted due to trading platform price feed down.
- Why would you be paying attention to this futures contract ? There was a sell down with good volume during first hour. A long candle was formed.
- Is the trend up or down? Would you be looking to get long or short this futures contract? Down. Looking at Short position.
- Where would you get long/short this futures contract ? Below 930am(chicago time) candle
- Where would you put the initial protective stop? Above 930am (chicago time) candle
- When would you stop trading for the day? Immediately after position (max 2 per day) established or after 1230noon NY time
- Where would you exit the position? Time when Stop is triggered.
Two trades closed with no gain, I shall call it a day. Postmortem will be posted tomorrow.
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