Dummy day trading #39 08-Nov-2006: ES Short trade closed
November 9, 2006 – 1:19 amAfter gap down, and downtrending moving averages I was looking at short opportunity. I shorted ES, however, I was stopped out immediately. One trade closed with 1-R loss.
- Short below the low of 6th bar, which was resisted by 5-EMA.
- After short position was stopped out, ES formed a channel with higher highs and higher lows. I did not go long immediately as 20-EMA and 50-EMA were trending down and forming resistance.
I guess this should be the only trade of the day. Good night.
By the way, if you are Tradestation user, take note of your statement, I was charged of monthly fee even though I made more than 10 round turns future trade during October. I have confirmed with Tradestation securities, they are aware of the billing issue.
From the desk of Tradergav.com
More on this topic
(What's this?)
Short Interest Down on Financials and Auto Companies
(naked capitalism, 11/28/08)
Downtrend Is Still In Effect And That Means Being Short Is Right And Being Long Is Wrong, For Now
(BigWaveTrading.net, 11/6/08)
Goldman Accused of Naked Short Selling of Leveraged Loans
(naked capitalism, 11/17/08)
The Perils of Short Selling
(Michael James on Money, 9/24/08)
No comments yet.