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Dummy Trading Mini Dow

Dummy day trading #23 05-September-2006: mini-sized Dow: Short trade closed

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Well , I do not have a great start for the month. Short position of mini-sized Dow was established below 9:30am (chicago time) candle. 1-R gain was achieved and stop loss was moved to break even point, and it was triggered.

Well, too bad. One trade closed with loss of commission.

1) Why would you be paying attention to this futures contract ? There was a sell down with good volume during first hour. A long candle was formed.
2) Is the trend up or down? Would you be looking to get long or short this futures contract? Down. Looking at Short position.
3) Where would you get long/short this futures contract ? Below 930am(chicago time) candle
4) Where would you put the initial protective stop? Above 930am (chicago time) candle
5) When would you stop trading for the day? Immediately after position (max 2 per day) established or after 1230noon NY time
6) Where would you exit the position? Time when Stop is triggered.


Today, I experienced trading platform data feed down. Basically,price feeds were frozen after all my stop orders were entered (Thanks God). Chart was distorted due to this, I have decided not to post chart for today’s trade. Another good experience. Anything can happen.

Dummy day trading #22 29-August-2006: mini-sized Dow: Short trade closed

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Another lousy day. Short position of mini-sized Dow was established below 10am(chicago time) candle. Dow mini did move in my favour and it was 2-ticks away from my 1-R break even point. AGAIN?!?!?! So near, yet so far….
I am especially cautious this week. After seeing position stalled for an hour and FOMC meeting is scheduled at 2pm, I decided to cover the position with tiny 0.15-R gain.

I am pretty good in making my broker happy huh?

Time for me to catch some sleep. Postmortem will be done later.

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Dummy day trading #21 24-August-2006: mini-sized Dow: Short trade closed

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This is a slow trade. Short position of mini-sized Dow was established below 10am (chicago time) candle. Due physical tiredness, I decided to close the trade with small gain.

Time to catch some sleep. Postmortem will be posted tomorrow. At least, I stopped the bleeding week.

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Dummy day trading #14 16-August-2006:Dow Mini:Long trade closed

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It was another bullish day, and it was indeed a repeat of tuesday’s session. S&P, Dow Mini as well as Nasdaq were having nice dummy set up. Long position of Dow mini was established above 9am(chicago time) candle. It was a very slow trade. Position was closed at 11309, and I have left E-mini Nasdaq position to run instead.That was a wrong exit of Dow. It continued to move up after that. My problem is on Exit a trade (in profit taking way).

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Here is part of the conversation with my trading buddy Vincent when discussing my problem. I have found it very useful.

do your planning in off hour trading not during trading -” plan the trade and then trade the plan”- if you can’t then you need to do one of 2 things or both – paper trade to give you more confidence so you really believe and therefore will stick to it or work on your discipline by using imagery of how you will trade in all situations or WRITE DOWN your stop and then ask yourself how do I answer to this if I override my stop and if I am wrong in overriding my stop

One trade close with 0.49R gain.

Dummy day trading #12 15-August-2006:Dow Mini:Long trade closed

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Long position of Dow Mini was established above the 9:00am (chicago time)reversal down candle. I decided to closed the trade at break even point as I do not like to see a doji immediately after the initial entry candle.
Secondly, given the consideration of Core CPI report which is due tomorrow, it might limit the upside of today’s rally.

One trade closed with 0-R gain. I think my broker will be the only person who is pleased with this kinda performance.

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