Dummy day trading #54 08-Feb-2007: NQ Short trade closed

Now I am convinced I need to add in a rule to refrain myself from trading before previous’s day range is broken. I have been thinking about this over the past week, as the success rate of my system is low when establishing position within previous day’s range. I made a short trade today which got stopped out immediately. Short position was taken during the first pull back of downtrend cycle. I was expecting selling to be continued, I was obviously wrong. [Read more…]

Dummy day trading #53 07-Feb-2007: NQ Long trade closed

After watching NQ futures broke above yesterday’s high, I was waiting for the first pull back to get into Long position. Indeed, Long position was established around 1035am when NQ futures bounced from moving average. This trade, I applied CBL trailing stop instead of setting a fixed profit target.

One trade closed with + 2.81 R (after commission)

07 Feb 2007

07 Feb 2007

Trade summary

  • Long above narrow range candle around 1035am (In 200 Tick chart)
  • Initial stop set below recent swing low
  • Trailing stop by applying CBL technique. Position was closed when it went below CBL.
  • Time stayed in position: 13 minutes.

Crappy day of Tradestation

I have no idea what’s going on with my Tradestation. I have an nice short setup of NQ around 1050am. My sell order was triggered, and immediately I saw some big loss figure in Matrix screen. It hanged, and suddenly showed me losses. That was not synchronized with what I was looking at chart. Without hesistation, I closed my position. And you know what, I was profitable! What the heck. I ended with +0.5 R gain only.

What a crappy day. I planned my trade, but the software failed me. Forget it, I am going to call it a day.

Here is my setup. Ah well…. a multiple R setup. Argghhh….

[photopress:NQ200ticksMistake.jpg,full,alignleft]

Dummy day trading #52 05-Feb-2007: NQ Long trade closed

Long position was established around 1041am (NY time), which was the first pull back of new uptrend cycle. This was the second time NQ trying to test last Friday’s high. I was wrong . Stop loss was triggered with 1 R loss. Since the second attempt of previous high failed, NQ seems to be trapped in the trading range. I am out for the day, cough syrup causes some drowsiness now.

One trade closed with -1 R loss

[photopress:NQ200ticktradeclosed05Feb2007.jpg,full,alignleft]

Trade summary

  • Long above narrow range candle around 1041am , which was breaking out from a flag pattrn as well.
  • Stop loss set at recent swing low.
  • Stop loss was triggered with 1 R loss.

Dummy day trading #51 02-Feb-2007: NQ Long trade closed

It is a choppy morning. After observing flag pattern formed, and the first pull back of new uptrend cycle, I took a long position of NQ Futures at the break of flag. It started nicely, however it stuttered after moving up around 38.2% from flag pole. I moved my stop to break even , and it was triggered.

One trade closed with 0 R.

[photopress:NQ200ticktradeclosed02Feb.jpg,full,alignleft]

Trade summary

  • Long above at break out of flag around 1012am. @1806.25. Entry is a little bit late.Missing out few tics.
  • Stop set at recent swing low 1803.75
  • Profit target is calculated by measuring height of flagpole.

Dummy day trading #50 01-Feb-2007: NQ Long trade closed

Long position was established at 940am when a flag pattern and dummy spot were found. This is another pattern trade, so target is set by using the height of flag pole. Target was not achieve, however, it was near, I closed the position when uptrend seems to be weaker.

One trade closed with +1.56 R gain.

01 Feb 2007

01 Feb 2007

Trade summary

  • Long at 940am, when NQ broke out from flag.
  • Initial stop was set at last swing low.
  • Target set by measuring height of flag pole.