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

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]

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estocastica2007-01-16 22:57:00 UTC

Hey Gav -- Happy New Year! Also, I really like you new blog design. Same result for me today -- one trade for 0.0R Best of luck in 2007.

estocastica2007-01-16 22:57:57 UTC

Hey Gav -- Happy New Year! Also, I really like you new blog design. Same result for me today -- one trade for 0.0R Best of luck in 2007.

Gav2007-01-16 23:23:00 UTC

Estocastica, Thanks! :) It was a chop fest indeed. Have a great 2007!

Gav2007-01-16 23:23:58 UTC

Estocastica, Thanks! :) It was a chop fest indeed. Have a great 2007!

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

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