Sep 102012

I got to my desk a little early.  I had checked in earlier and saw we were balanced.   So after dinner I came up and I saw we had closed the gap above and that NQ & XLF looked bearish, and odds of an inside day are low so I figured I’d play for a new low.  I picked a low-risk entry and got short.  It look a lot of patience but I was able to stay in.  My target was yday low which was also Friday high. It touched my target 3 times and I still didn’t get filled.  It took a lot of willpower to stay in but I did, mostly due to NQ dropping like a rock.  I was in my trade over 45 minutes and thought I’d have a reasonable position in the queue.  I finally got filled and ES continued lower to the next target which was the gap fill.

I’m doing 1 lot now until I get some more statistics and once I’m confident about my edge and have consistency, I’ll add the second contract and be able to go for extended targets.


  3 Responses to “Short for yesterday low”

  1. Nice trade!. if You allow me let me ask you a Q: you mentioned that you took a “low-risk entry” but I don’t get why it was a low risk, could you explain a bit more. (According to my data that entry was located just below vpoc at that time, and spot on a MCHVN)

    By the way, congratulations for your blog, I like it very much!

  2. It was low risk because I was watching a specific price and I knew if it went above that price then I was wrong. That price was around the VPOC.

  3. great thx U!

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