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Gav's trading blog - Perseverance, Consistency, Confidence

Dummy Trading Mini Dow

Dummy day trading #36 17-Oct-2006: YM Long trade closed

by 7 Comments

Dear diary,

Market seems to know my frustration(just fed up with them) over those people who are questioning dummy trading. It gave me some small rewards today. Short position of YM was established below the low of 6th candle (945am NY time candle). That was a fast trade. Target at Fib extension 61.8% was achieved at 8th candle.
Cash market was losing -90 points. I chose to close my position since first target was hit. One trade closed with 2.38-R gain (27 YM points gain)

Trade Grade:
Trade score: 1: Target hit
Execution score: 1: Followed trade as dictated in my plan

Here is the beauty. Kiss her.

17 Oct 2006
17 Oct 2006
    • Is the trend up or down? Would you be looking to get long or short this futures contract? That was a big gap down. Looking to get Short

 

  • Where would you get long/short this futures contract ? Below the low of 6th candle (945am NY time candle) which was below Opening Range low and resisted by 5-MA.

 

 

  • Where would you put the initial protective stop? Above high of entry candle (High of 6th candle)

 

 

  • Where would you exit the position? Fib extension 61.8% and 100%

 

 

Be a better trader today.

Dummy day trading #33 12-Oct-2006: YM Long trade closed

by 2 Comments

Dear diary,

Long position of YM was established above high of 4th bar. However, I was stopped out. One trade closed with 1-R loss.

I will stop trading for the day and continue writing my business plan.

[photopress:YMZ06_15_trade_closed_1.jpg,full,pp_image]

  • Is the trend up or down? Would you be looking to get long or short this futures contract? Trend is up. Looking to get Long
  • Where would you get long/short this futures contract ? Above the high of 4th bar which is above Opening Range (OR) as well.
  • Where would you put the initial protective stop? Below the low of 4th bar which is below 5-MA as well
  • When would you stop trading for the day? After position is established
  • Where would you exit the position? Fib extension 38.2% and 61.8%

Dummy day trading #32 10-Oct-2006: YM short trade closed

by 8 Comments

This is a trade that did not work out as planned. Shorted YM, with 1-R loss. This is a small loss. Looking at the chart, maybe I should look for even narrower bar for entry. Anyway, exited the trade as planned since the setup failed to work.

[photopress:orig_YM_15_trade_closed_1.jpg,full,pp_image]

Q&A

  • Is the trend up or down? Would you be looking to get long or short this futures contract? Trend is down. Looking at short
  • Where would you get long/short this futures contract ? short below 3rd bar low which is a inside bar below Fib extension (regular session)
  • Where would you put the initial protective stop? Abot 3rd bar low
  • When would you stop trading for the day? After position is established/2pm NY time
  • Where would you exit the position?Target Fib extension 138.2% and 161.8% or stop loss triggered

Dummy day trading #31 02-Oct-2006: YM Long trade closed

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Dear diary,

This is the last trade of the day. I got in Long position of YM again, after it pulled back to moving average and a dummy setup appeared, very nice narrow range candle. TICK closed at 401. I was stopped out with 1-R loss.

In fact, there was a divergence in which TICK was making a lower highs while YM trending up. I will talk to you more later.

Here is the chart after closing the trade.

[photopress:YMZ06_15_trade_closed_2nd.jpg,full,pp_image]

Dummy day trading #30 02-Oct-2006: YM Long trade closed

by 2 Comments

Dear diary,

This week is kinda experimental for me. I am integrating NYSE TICK and TRIN into my trading.

So, it is experimental, and I’ve just made a stupid trade. Not dummy trading, but stupid trading. I got in Long position of YM (Mini-sized Dow) in 15-min chart after getting a dummy setup with narrow range and TICK closed at +800 which is pretty positive.The setup looked excellent.

The mistake is here. I closed the trade almost immediately after realizing uptrend in TRIN. Moron. I don’t know if this decision is correct. But I was confused by indicators. I am not new to trading, but I still have this problem. Ok, I will think about it and talk to you later. One trade closed with 0.32-R gain.
Here is the chart after I closed the trade.

[photopress:YMZ06_15_trade_closed.jpg,full,pp_image]

Dummy day trading #25 06-September-2006: Mini-sized Dow: Short trade closed

by 2 Comments

I got a wrong trade today. It was darn slow. A waste of time. I decided to close the trade, after staying flat for 2 hours. I defined it as a wrong trade as E-mini S&P and E-mini Nasdaq were moving actively while Dow stalled.
I see pivot S2 level at 11420, I decided to close the position around this level with 0.14-R gain.

Dow might played some catch up later, but it did not deserve my sleeping time.Today is just not my day. I decided to call it a day and SLEEP.

Postmortem will be posted later.

[photopress:mini_dow_30min_trade_closed.JPG,full,centered]

1) Why would you be paying attention to this futures contract ?
I did not pay attention to it until 930am chicago time, after observing dowtrend established and dummy setup was completed.

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

3) Where would you get long/short this futures contract ? Below 9am (chicago time) candle.

4) Where would you put the initial protective stop?
??? ??? Above 9am(chicago time) candle.

5) When would you stop trading for the day? After position was established.

6) Where would you exit the position? Stop triggered.In this case, I exited the position at Pivot S2 level after position flat for 2 hours.