After watching NQ futures broke above yesterday’s high, I was waiting for the first pull back to get into Long position. Indeed, Long position was established around 1035am when NQ futures bounced from moving average. This trade, I applied CBL trailing stop instead of setting a fixed profit target.

One trade closed with + 2.81 R (after commission)

Trade summary

• Long above narrow range candle around 1035am (In 200 Tick chart)
• Initial stop set below recent swing low
• Trailing stop by applying CBL technique. Position was closed when it went below CBL.
• Time stayed in position: 13 minutes.

I have no idea what’s going on with my Tradestation. I have an nice short setup of NQ around 1050am. My sell order was triggered, and immediately I saw some big loss figure in Matrix screen. It hanged, and suddenly showed me losses. That was not synchronized with what I was looking at chart. Without hesistation, I closed my position. And you know what, I was profitable! What the heck. I ended with +0.5 R gain only.

What a crappy day. I planned my trade, but the software failed me. Forget it, I am going to call it a day.

Here is my setup. Ah well…. a multiple R setup. Argghhh….

[photopress:NQ200ticksMistake.jpg,full,alignleft]

Long position was established at 940am when a flag pattern and dummy spot were found. This is another pattern trade, so target is set by using the height of flag pole. Target was not achieve, however, it was near, I closed the position when uptrend seems to be weaker.

One trade closed with +1.56 R gain.

Trade summary

• Long at 940am, when NQ broke out from flag.
• Initial stop was set at last swing low.
• Target set by measuring height of flag pole.