Dummy day trading #26 13-September-2006: E-mini Nasdaq: Long trade closed

Right after oil inventory report was released, my buy stop for E-mini Nasdaq was triggered. The trade did not go in my favour. Stop loss was triggered with 1-R loss. Well, too bad.

It seems to be a consolidation day after yesterday’s gain. But, who knows. Anyway, I will stop trading for the day.

  1. Why would you be paying attention to this futures contract ? Strong opening with volume. In addition, S&P volume analysis shows volatile day ahead.
  2. Is the trend up or down? Would you be looking to get long or short this futures contract? Up. Looking at Long.
  3. Where would you get long/short this futures contract ? Above 9am (Chicago time) candle (inside bar), which was after oil inventory report.
  4. Where would you put the initial protective stop? Below 9am? (Chicago time) candle. with risk 1.18%
  5. When would you stop trading for the day? After position established.
  6. Where would you exit the position? Stop loss triggered
About Gav

A Father, Husband, Trader, and Blogger. A serious coffee addict. Started trading since 2005, trades Futures and FX.

Follow me at Twitter and Google+

Speak Your Mind