Dummy day trading #59 28-Feb-2007: NQ Short trade closed

I decided to make an attempt when NQ goes below opening low again. Short position was established around 951am during the first pull back of new downtrend cycle.Too bad, I was stopped out.

One trade closed with -1 R loss

[photopress:NQ200ticks28Feb2007.jpg,full,alignleft]

I will stop trading for the day and get some rest. I am preparing monthly review now.

Dummy day trading #58 27-Feb-2007: NQ Short trade closed

Short position of NQ was established around 1116am. I did not expect too much out of this trade as we have a big gap down which took out yesterday’s low as well as last week’s low. Cash market has been losing more than -40 points. The real profit started from premarket , too bad, I was not ready to trade.

Trailing stop was moved, and was triggered around 1140am. Well, uneventful day. One trade closed with break even. 0 R.

[photopress:NQ200tick27Feb2007.jpg,full,alignleft]

Dummy day trading #57 14-Feb-2007: NQ Long trade closed

“What do you want?” I am asking myself after closing the position. In fact, I had two entries to go Long NQ futures. I gave up the first one which appeared around 10am. Reason being I had a bearish view of NQ given longer time frame looked rather bearish. So I decided to wait for bollinger band expansion in 15 minute chart before deciding to go Long.

Finally, long position of NQ was established 10:05am when NQ broke out from flag, which was also the first pull back of new uptrend cycle. However, this entry was kinda toppish. And CBL trailing stop was triggered.

One trade closed with +2.01 R gain. It should be a multiple R trade, but “What do you want?” Be bold, or want more confirmation? Confirmation costs some money though.

14 Feb 2007

14 Feb 2007

Dummy day trading #56 12-Feb-2007: NQ Short trade closed

I was once thinking maybe I should not post details of my trade online. But anyway, I continue doing this now. I just came back from office , yes, 545am (Singapore time). I received an urgent call after closing my position. My office network was infected by Virus,causing .exe files of systems being deleted. Tell you what, I HATE THIS JOB.

Ok, I took a short position around 935am (NY time). This is a dummy combining flag pattern setup. I again applied CBL trailing stop technique and closed the position with +2.51 R gain.

12 Feb 2007

12 Feb 2007

Dummy day trading #55 09-Feb-2007: NQ Long trade closed

uhm, kinda disappointing morning. Long position of NQ futures was established around 945am, when it moved above yesterday’s range and started bouncing above moving average.Well, I got stopped out. [Read more…]

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…]