Long position of E-mini Nasdaq was established above 10am chicago time candle. It broke out flag pattern and dummy setup was found. BUT,I was stopped out immediately at next candle. One trade closed with 1-R (ok, 1 Z ) loss.

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•  Why would you be paying attention to this futures contract ? I see continuation of uptrend in 15-min chart and index surged at 3rd bar. A broke out from flag pattern
•  Is the trend up or down? Would you be looking to get long or short this futures contract? Up. Looking at LONG only
•  Where would you get long/short this futures contract ? Above 10am Chicago time candle. It is a NR7.
•  Where would you put the initial protective stop? Below 10am chicago time candle
•  When would you stop trading for the day? Immediately after position established or 12noon
•  Where would you exit the position? Stop loss triggered or profit taking at height of flag pole.

I was taking extra risk when trading with a exhausted body (Highly unadvisable). Short position of E-mini Nasdaq was established below 1030am chicago time candle. It was NR5 as well. I was being cautious with the trade when Nasdaq index had already lost around -25 points. I decided to close the trade when the next big candle at 11am chicago time came with lousy volume. It did not seem to be a sell off, chance of mid day reversal was there. First trade after a great vacation with 0.44-R gain (or maybe 0.44 ‘Z’ gain 🙂 )

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1) Why would you be paying attention to this futures contract ? Intraday downtrend established with dummy setup in conjunction with NR5 was found.

2) Is the trend up or down? Would you be looking to get long or short this futures contract? Down, looking at Short only

3) Where would you get long/short this futures contract ? Below 1030am chicago time candle (NR5 candle)

4) Where would you put the initial protective stop? Above 1030am chicago time candle (max 1.06% risk)

5) When would you stop trading for the day? After position established or after 12 noon

6) Where would you exit the position ? When market sentiment failed to continue (i.e market failed to sell off further) / stop loss triggered.

Success truly is the result of good judment. Good judgment is the result of experience, and experience is often the result of bad judgment!

Right after oil inventory report was released, my buy stop for E-mini Nasdaq was triggered. The trade did not go in my favour. Stop loss was triggered with 1-R loss. Well, too bad.

It seems to be a consolidation day after yesterday’s gain. But, who knows. Anyway, I will stop trading for the day.

1. Why would you be paying attention to this futures contract ? Strong opening with volume. In addition, S&P volume analysis shows volatile day ahead.
2. Is the trend up or down? Would you be looking to get long or short this futures contract? Up. Looking at Long.
3. Where would you get long/short this futures contract ? Above 9am (Chicago time) candle (inside bar), which was after oil inventory report.
4. Where would you put the initial protective stop? Below 9am? (Chicago time) candle. with risk 1.18%
5. When would you stop trading for the day? After position established.
6. Where would you exit the position? Stop loss triggered

What a week. most likely I am going to post my first negative performance chart this weekend.  Short position was established below 12 noon bar. Again, today I was stopped out with 1-R loss.
I got a string of losses, though Rs are small.

Ok. time to sleep. Postmortem will be posted later.

History repeats itself again, I have a reddish Monday. Short position of E-mini Nasdaq was established below 930am (chicago time) candle. And I was 2 ticks away from my break even point. 2-ticks , so near , yet , so far.

One trade closed with 1-R loss.