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Dummy day trading #54 08-Feb-2007: NQ Short trade closed

by Gav Leave a Comment

Now I am convinced I need to add in a rule to refrain myself from trading before previous’s day range is broken. I have been thinking about this over the past week, as the success rate of my system is low when establishing position within previous day’s range. I made a short trade today which got stopped out immediately. Short position was taken during the first pull back of downtrend cycle. I was expecting selling to be continued, I was obviously wrong.

I trade closed with -1 R loss. I am watching the market till lunch hour.

[photopress:NQ200tic08feb2007tradeclosed.jpg,full,alignleft]

Postmortem:
I called it a day around 12noon. Well, looking back at the trade I made, It was not so convincing. As mentioned before, I took a short trade before NQ futures broke down previous day’s range and in fact it was heading to yesterday’s low around 1804. I need to be a little bit more patient.

Long opportunity appeared around 1235pm, however I had already left my trading desk.

Filed Under: Dummy Collection, Trading Journal Tagged With: Dummy Trading E-mini Nasdaq, Trading Journal

Reader Interactions

Comments

  1. Rich says

    at 9:36 pm

    Good to take the afternoon off. Tough day for shorts, but I’m staying the course.

    Reply
  2. Rich says

    at 2:36 am

    Good to take the afternoon off. Tough day for shorts, but I’m staying the course.

    Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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