This is the business we have chosen ~ The GodFather, the movie

Dear diary,

I am pretty selective on dummy setup. I do not want to get whipsawed during this pre holiday trading week. (Excuse to take a day off).
Ok, Maybe I was being a coward. I exited the trade early. There were few reasons that prompted me to cover short position of mini-sized Dow early.

  • It failed to reach my 1-R break even point gain, and the worst , it was just 2 ticks away. Market was slow and reluctant to sell further.
  • After the initial break down, it gave me a doji immediately at the next candle. That disgusted me further.
  • The position was opened for around 1.5 hours and going nowhere. FOMC meeting was scheduled at NY time 2pm. People were waiting..
  • “Bro, it is pre holiday trading week. In fact ,you are not supposed to trade!”

Well, am I writing something to cover myself from breaking the rules? Maybe I am.(Anyway, this decision was right for this particular trade, market rallied back in the later session).

These are not rules of trade, but some judgement calls under certain conditions.

From the desk of Tradergav.com


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