TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Trading Journal

Dummy day trading #40 04-Jan-2007: NQ Long trade closed

by 2 Comments

Long position of NQ was established above 935am candle which is right above upward trending 9-MA. Stop loss was moved to break even point after 1.5-R gain. Well, I got stop out with 0-R gain.
Trade summary

  • Long above second bar high which was the first pull back of current trend cycle
  • Initial stop loss is set at the low of second bar.
  • Stop loss was moved to break even point after position was in 1.5-R gain.
[photopress:NQ5minLongtradeClosed.jpg,full,pp_image]

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 #35 16-Oct-2006: NQ Long trade closed

by 6 Comments

Long position of NQ was established above high of 6th bar. I scratched the trade when it closed below 5 an 8 MA. One trade closed with -0.66 R loss.

Trade Grade:

Trade score: 4: Out at a different price from stop, but a losing trade

Execution score: 2: Followed trade entry, but closed out position before predetermined target was hit 5: Impulsive

[photopress:NQ_15_fib_trade_close_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 high of 6th bar which was above Opening Range and 8-MA. Hindsight, this is not a good entry, and I was lack of patience and broke the rule-entry bar should be a up bar.
  • Where would you put the initial protective stop? Below the low of entry bar
  • Where would you exit the position? Fib extension level 38.2% and 61.8%

Dummy day trading #34 13-Oct-2006: NQ Long trade closed

by 1 Comment

Long position of NQ was established above 9th bar high. I closed that position at 17th bar, with 2.09-R gain (+6.5 points in NQ). I closed the position at Fib extension 38.2% as it is 2am in Singapore.
That’s a better way to end the week.

Trade score :1 – Target hit

Execution score: 1 – Followed trade as dictated in my plan

13 Oct 2006
13 Oct 2006
  • 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 high of 9th bar which is a narrow range bar, above opening range and moving average.
  • Where would you put the initial protective stop? Below the low of entry bar
  • Where would you exit the position? Fib extension 38.2%

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