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

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.

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.