Gav’s trading blog, be inspired by good trades

Postmortem 06-September-2006

It was a trending day. But, I did not make much money. Was I frustrated? I was. I was trying very hard to jump out from the recent lousy days. Vincent told me a fact that (thru IM) I was not paying enough attention to other indices. I have to admit that. I sticked my eyes on DOW, and ignored E-mini S&P and E-mini Nasdaq. Dummy setup appeared in all of them, and I did not notice.

I made an early exit on Dow trade at Pivot S2 level. As mentioned in my previous post, my mini-sized Dow position was flat for 2 hours, and in fact, S2 level was tested twice. I decided to close the position. It appeared to me that the probability for Dow to play a catch up was low.
(Looking at the chart retrospectively, I would be stopped out with 1-R loss if I were to hold on the position)

I was not sharp enough today. So, I was not good enough to trade today.

Let’s fight another day.

A good news for me is that my Tradestation application is finally completed I should be able to start trading on Tradestation 8 next week. I am long to implement Gap play, Pivot play and tick fade in addition to my dummy trading. (I can’t do that with my current trading platform).

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Tags: Trading Psychology