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Dummy day trading #63 20-Mar-2007: ZG Long trade closed

by Gav Leave a Comment

Does Gold always rally once a day? Just kidding. I got in long position around 1036am , trying to get into second rally. However, I was wrong. I was stopped with -1 R loss.

There seems to be some problem with Tradestation order execution. My stop order was not honoured immediately. Though I saw there were numbers of ask and bid orders. It hanged for a couple of seconds before it came back to fill my order. Phew….

Anyway, here is the dumb trade. Very bad entry. I need to be patient a little bit more. I am still FLAT for March.

[photopress:ZG200tick20mar2007.jpg,full,alignleft]

Journal note: Phileo at Phileo’s Picture Windows did two nice trades on ZG. I was wondering, if I am again having the same problem of missing the forest again. I tend to over concerntrate on tick-by-tick action instead of stepping back a little and look at the bigger picture. There were indeed some nice dummy spots to get into ZG trade today, and , well, I missed it all.

Filed Under: Trading Journal Tagged With: Gold, Trading Journal

Reader Interactions

Comments

  1. Phileo says

    at 4:23 pm

    Hi Gav,

    There was a dummy setup in ZG just before where you bought. I bought just before you did, and was fortunate to get out for a few dimes profit.

    Reply
  2. Phileo says

    at 11:23 am

    Hi Gav,

    There was a dummy setup in ZG just before where you bought. I bought just before you did, and was fortunate to get out for a few dimes profit.

    Reply
  3. Gav says

    at 12:40 am

    Phileo,
    Congrats for the profit, and thanks for the comment.
    I was waiting for my filter to give me a “Go” before got into the position. Ah well.. it still failed. Too bad.

    Reply
  4. Gav says

    at 7:40 pm

    Phileo,
    Congrats for the profit, and thanks for the comment.
    I was waiting for my filter to give me a “Go” before got into the position. Ah well.. it still failed. Too bad.

    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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