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Dummy Trading Mini Dow

Dummy day trading #8 10-August-2006: Dow Mini: Long trade closed

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It was a very slow day for index futures. Not so easy money . Long position of Dow Mini was established above 1030am(chicago time) inside bar. This entry might be too early, I was just following the rule. Stop was moved twice and it was triggered at 11151 with 1-R gain. Initially, I was thinking to close the position at 11167 which was 20-day moving average in daily chart. I had decided to let the profit run instead of setting target. With this decision, I missed some profit.

By the way, I missed out Gold trade.

 30-min chart of Dow Mini

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This trade tested my patience and discipline. There were times that I thought of just closing the trade and go to bed (Oh ya, I was trading from Asian, it was during wee hours , man). I diverted my attention by reading blogs, chatting , eating etc. Just to prevent myself from watching the market too much and making wrong decision. Not so bad, 1 trade closed with 1-R gain.

Charts: Futures recap 08-August-2006

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If one of the trading rules is 'You don't need to trade everyday', Fed meeting day might be a good day to take a break from trading. Again, I decided to leave index futures alone for the day, and turned my eyes to commodities.

Well, Gold did not have a good run. I was pretty lucky since my broker did not set up Gold contract to be tradeable in my account. My Long order was rejected. A nice entry set up above 10am(chicago time) candle for Long position. However, it was eventually by the wild swing @13:00 (chicago time) candle.

30-min chart of Gold 100z Futures 

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Here is 30-min chart of Mini Dow futures. again 13:00 (chicago time) candle will stop out any position. 

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Not so good for the first two days of the week. I am still flat for this week.

Charts: Futures recap 07-August-2006

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As mentioned in my previous posting, if I were to point out the mistake of the day, the it was the miss of entry for Mini Crude. .  Instead, I was looking at Gold, which bulls were too weak to go further.

Let's back to business. Looking back at the 30-min charts, I guess I made a right decision by leaving out Index futures yesterday. The monkey was really jumping around, hurting visitors in the zoo. No good set up for both Mini Dow and Mini Nasdaq for me. 

Mini Crude 30-min chart 

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Mini Gold 30-mini chart 

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Mini Dow 30-min chart 

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Mini Nasdaq 30-min chart 

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Dummy day trading #5 04-August-2006: Mini Dow:Long trade closed

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This is a losing trade. After Non Farm payroll report was out, Mini Dow Futures had a nice gap up. Long position was established above next inside bar @ 8:00am chicago time. Initial stop was triggered with 1~R loss.

[photopress:Mini_dow_30_min_full_day_1.JPG,full,pp_image]

The most interesting part of today’s trading is the experience of eCBOT exchange data down.
Here is the notice from eCBOT.

‘CBOT Update Regarding System Issue from Aug 4, 2006
On Friday, August 4, 2006, at 9:30 a.m. Chicago time, the e-cbot trading host moved all products to a closed state due to a software issue. At that time, all day orders in the system were automatically canceled. During the closed state, open auction products remained open. e-cbot markets reopened at 12:00 p.m. Chicago time. For more information please view the e-cbot bulletin 08.04.06’

On the other hand, I was a little lucky since my stop loss order was trriggered earlier as planned. Mini Dow futures reopen with a BIG gap which would be a multiple R loss.

Mini Dow & E-mini Nasdaq charts ended 03-August-2006

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Here are 30-min charts of Mini Dow and E-mini Nasdaq Futures after market closed. It was a repeat of Wednesday session. Long opportunities were found in both futures. I guess, I might need to consider getting an additional monitor or workstation to view more charts at the same time. It is a little bit tedious to day trade few futures at the same time using a laptop.

Anyway, you can’t win them all.

E-mini Nasdaq

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Mini Dow Futures

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Dummy day trading #4 03-August-2006: Mini Dow Futures: Long trade closed

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It is another good day for bulls. Mini dow had a good run. Long positon was established at 11229 above 1030am candle with initial stop below 11215. Trailing stop was moved four times after position reached 4~R gain. Subsequently, Mini Dow pulled back, and last trailing stop was triggered at 11270 with 3-R gain. I am still feeling I am moving trailing stop too early, however, before I have a complete plan, I will stick with this plan.

03 august 2006
03 august 2006