Dummy day trading #39 08-Nov-2006: ES Short trade closed

After 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.

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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.

Dummy day trading #38 07-Nov-2006: ES Long trade closed

Long position of ES was established when it pulled back to 20-EMA. I did not take profit when it hit last swing high (It was 1-R gain at this point of time), and it was Pivot R1 level as well. Instead, I moved my stop to break even which was below 5-EMA. I am thinking maybe i should take profit at this point (partial profit taking is not an option to me at this point of time, I am trading 1 contract for ES), and subsequently look for second entry opportunity. Anyway, stop was triggered. Well, too bad. One trade closed with B/E.

  • Long above high of 18th candle. It was supported by 20-EMA
  • Stop was set below the low of 18th candle.
  • Target was set at Fib extension 61.8%
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At the time of writing this post NY time 1205pm, I found that Tradestation quotes and charts are frozen for the past 2 minutes. After restarting the application, everything seems fine. I don’t know what’s going on again.

Recently I am enjoying trading dummy in 5-min ES. Volatile and bigger tick value comparing to YM and NQ.

Dummy day trading #37 06-Nov-2006: ES Long trade closed

Ok, 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.

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Dummy day trading #19 22-August-2006: E-mini S&P: Long trade closed

This is the second , and the last trade of the day. Long position of E-mini S&P was taken above 930am (chicago time) candle. Again, I was stopped out with 1-R loss.

Jessss…3 losses in a row, guess it is time for me to look for holy grail now…

(BS..).

Postmortem will be posted after I get some sleep.

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Dummy day trading #11 15-August-2006:E-mini S&P:Long trade closed

First trade of the day was a loss, and I was a loser. However, I deserved the loss. It was the result of lack of discipline to follow my trading rules, that is never enter a trade during the first hour of stocks market opening. I was eager to enter Long trade of E-mini S&P given S&P futures/Dow/Nasdaq are having good gain after Core PPI number released.

One trade closed with 1-R loss. Though the R is very small for this trade, the result shows a serious discipline and trading mentality problem.

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