I got a wrong trade today. It was darn slow. A waste of time. I decided to close the trade, after staying flat for 2 hours. I defined it as a wrong trade as E-mini S&P and E-mini Nasdaq were moving actively while Dow stalled.
I see pivot S2 level at 11420, I decided to close the position around this level with 0.14-R gain.
Dow might played some catch up later, but it did not deserve my sleeping time.Today is just not my day. I decided to call it a day and SLEEP.
Postmortem will be posted later.
1) Why would you be paying attention to this futures contract ?
I did not pay attention to it until 930am chicago time, after observing dowtrend established and dummy setup was completed.
2) Is the trend up or down? Would you be looking to get long or short this futures contract?
Down. Looking at Short
3) Where would you get long/short this futures contract ? Below 9am (chicago time) candle.
4) Where would you put the initial protective stop?
??? ??? Above 9am(chicago time) candle.
5) When would you stop trading for the day? After position was established.
6) Where would you exit the position?
Stop triggered.In this case, I exited the position at Pivot S2 level after position flat for 2 hours.