- lowered my offer on the NQZ09 from 1713.50 to 1709.50 and was filled at 1709.50...
- for the swing trade: +7.25 NQ points/contract, 1 contract closed (based on an average entry price of 1702.25)...
- for the day: +7.59 NQ points/contract, 2 contracts closed: 15.18 total NQ points booked...
- bidding 1702.50 for 1 NQZ09...
- changed the offer from 1723.50 to 1716.50 on the remaining NQZ09 contract...
- i am happy to have booked some gains today...
- however, this is the third time today i have changed the level of the entry or the exit order...part of it is based on analytics, another part is based on fear...
- i was afraid of not getting out: 1) 1726.50 to market (1722.00); 2) 1713.50 to 1709.50...
- i was afraid of not getting in: 3) 1693.50 to market (1696.00)...
- 1) worked out well: the exit was at 8:45 am...the NQ then traded as high as 1725.50 shortly after the open of the day session, then dropped nearly 2% to 1688.75...holding this contract, would have led to another drawdown, and i would not have added the contract at 1708.50...
- 2) did not work out...1693.50 was hit less than 1 minute after 1696 was hit...
- 3) remains to be seen...the high for the move up was 1710.25...
- on another note, the NQ appears to be showing a bit of rs compared to the ES...of the few sectors that i monitor, only the SMH is in the green...this also suggests NQ leadership...i prefer rallies where the NQ shows rs to the ES...rallies that are led by the SMH are even better, in my view...
***remember this is an illustration of what i am trading and my thinking...my trading plan may change without notice...this is not a recommendation for you or anyone else, to buy or sell this or any other security...trade at your own risk***
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You were long and still made money in the hard selling, great trading.
ReplyDeletethanks mvw...my heart was definetly racing during the downdraft...i just stuck with my overall bias (be long at opportune places and times), and then tried to manage my risk as much as possible by spacing out my entries, and limiting the number of entries...so far it has worked out...i am still having issues with trading plan changes being instigated by emotions (fear)...i am doing some work on this...as we have previously discussed, teasing out what is cognitive and what is emotive is not an easy thing...but i feel good for at least trying to figure it out...
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