Dummy day trading #23 05-September-2006: mini-sized Dow: Short trade closed
September 5, 2006 – 11:34 pmWell , 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.
From the desk of Tradergav.com
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