Dummy day trading #37 06-Nov-2006: ES Long trade closed
November 7, 2006 – 1:10 amOk, a coward can’t make big money.
Mistake of the day was not taking position of YM and ES in the first 30 min. I was not confident enough. Here is a trade with second setup found in ES. I scratched the trade with 0.32-R gain. ES was hanging at 61.8 Fib level and it seemed to be finding resistance at this level. I decided to exit the position and wait for second entry when it pulled back to moving average. (I know, this is just an excuse of not willing to see my stop loss get hit, stupid coward).
- Uptrend.
- Long above high of 15th narrow range inside bar, which was also supported by rising 5-EMA.
From the desk of Tradergav.com
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