After gap down, and downtrending moving averages I was looking at short opportunity. I shorted ES, however, I was stopped out immediately. One trade closed with 1-R loss. Short below the low of 6th bar, which was resisted by 5-EMA. After short position was stopped out, ES formed a channel with higher highs and higher […]
Dummy Trading E-mini S&P
Dummy day trading #38 07-Nov-2006: ES Long trade closed
Long position of ES was established when it pulled back to 20-EMA. I did not take profit when it hit last swing high (It was 1-R gain at this point of time), and it was Pivot R1 level as well. Instead, I moved my stop to break even which was below 5-EMA. I am thinking […]
Dummy day trading #37 06-Nov-2006: ES Long trade closed
Ok, a coward can’t make big money. Mistake of the day was not taking position of YM and ES in the first 30 min. I was not confident enough. Here is a trade with second setup found in ES. I scratched the trade with 0.32-R gain. ES was hanging at 61.8 Fib level and it […]
Dummy day trading #19 22-August-2006: E-mini S&P: Long trade closed
This is the second , and the last trade of the day. Long position of E-mini S&P was taken above 930am (chicago time) candle. Again, I was stopped out with 1-R loss. Jessss…3 losses in a row, guess it is time for me to look for holy grail now… (BS..). Postmortem will be posted after […]
Dummy day trading #11 15-August-2006:E-mini S&P:Long trade closed
First trade of the day was a loss, and I was a loser. However, I deserved the loss. It was the result of lack of discipline to follow my trading rules, that is never enter a trade during the first hour of stocks market opening. I was eager to enter Long trade of E-mini S&P […]