Though we had some sell off during the opening, I did not find much trading opportunity. Instead, I saw a new uptrend cycle was formed. Long position was established around 1010am. It was a bull flag (more on chart patterns later) combined with my dummy setup. [Read more…] about Dummy day trading #49 31-Jan-2007: NQ Long trade closed
Trading Journal
No trade 30-Jan-2007; Change of time zone
I was looking at NQ futures, and no setup was found. Boring day for me. We are waiting for some catalysts this week.
I have just adjusted the time zone of this site to Eastern time. Since all my trading and blogging activities are targeting on American market. So, in case you are browsing some archieve of this blog (Thank you), and find some alignment problems of posting date, please switch to the next day, since all posting before today were written based on Singapore time (GMT +8). I am trying to do some tricks in database, let’s see if I can fix this problem.
Another note, I am experiencing big amount of spams recently, and I have the put plugins like Bad Behavior and Spam Karma 2 to work. In case, your comment was accidentally black listed, please shoot a email at my contact page.
I have been wasting too much time on this stupid web hosting and blogging stuffs. Now it is time to focus on trading to earn my air tickets.
Dummy day trading #48 29-Jan-2007: NQ short trade closed
Lack of patience today, I took a lousy setup this morning, and I was punished. After waiting for around 90 minutes after opening bell, I saw a lower high in NQ futures. I took a short position around 11am (NY time), although my indicators are showing me a choppy day.
One trade closed with 1 R loss. [photopress:NQ5minShorttradeclosed.jpg,full,alignleft]
Trade summary:
- Short below the low of 1055am candle.
- Intial stop set at last swing high
- Stop was triggered.
I will stop for the day. This should be an exciting week
Dummy day trading #47 25-Jan-2007: NQ short trade closed
I made a execution mistake today.
Short position was established at 1120am. It was a slow start. Market started sold off after 1130am. However, I was being a Chicken. Instead of letting the profit run, I covered the position with only 1 R gain. That’s a shame. Poor plan execution. It should have been a multiple Rs day. And I am feeling frustration now. So I am gonna call it a day. 🙁 [Read more…] about Dummy day trading #47 25-Jan-2007: NQ short trade closed
Readings: Basic Options
It was a strong morning. And, NQ was running without me. Staying flat for 3 days in a row. uhm… I saw a trend coming, however, I just couldn’t find my entry setup. Well, forget it. There are opportunities in the market day in and day out, but they are invisible to me now as I have not learned to recognize them. It takes a pretty long time and effort to build recognition plan and skills.
I received emails asking for information about futures trading. I have yet [Read more…] about Readings: Basic Options
Gav’s Morning Coffee 19-Jan-2007
Options expiration Friday. I might be trading , I am not sure. I would like to see a strong trending opening before deciding if I am going to jump in. While there seems to be a strong interest in Futures trading in blogsphere, I am ,in fact, start looking at options trading. 😉 I am looking at short term options trading on stocks. Of course, my focus is still in Futures. I am trying to study some basis now. John from theessentialoftrading.com did a nice video on stock options trading. check it out.
Tradestation releases build 8.2. I am still downloading.
OK, back to market. I am looking at daily chart of Nasdaq. We have some pull backs in Nasdaq as expected. Now I am interested in watching if moving average is supporting it. I am staying neutral. Premarket is showing flat. We had 3 down days consecutively.Today might be a choppy or flat day. Maybe it will form a nice dummy spots in daily chart? 60 minutes shows me negative pictures and sellers are still dominating.
I might instead spend time reading options stuffs and play around with Tradestation.
[photopress:NQ60premarket.jpg,thumb,alignleft][photopress:cashmarket18Jan2007.jpg,thumb,alignleft]
I was talking to a colleague from China (He is not a trader though), he mentioned to me , in China, colors of price bars are opposite to what we are reading here. Meaning, RED for a up bar, BLUE/BLACK for a down bar. You know, Asian, especially chinese, Red represents lucky, prosperity and …every that is good. Uhm…So, I guess I gonna change all my candlesticks color in the Chinese way. LOL.
