Sunday, October 31, 2004

Journal - 10/29/04

Trade 1

10:16 - L ER2 2 @ 583.2 stp 6 - 3m counter, 30m sideways, 30m lowbb, 5m bline oversold,

Note: Widened stop to 11 ticks when market continued down after entry due to strong selling pressure. However, 30m chart is sideways so held on because market extremely oversold and at 30m lowbb, expecting bounce. If market is trending, widening stop is a bad idea.

10:24 - Exit 1 @ 583.4 +2 - scale out, price went negative and almost got stopped out, entry price not good, bounce doesn't look strong
10:25 - Exit rem 1 @ 583.4 +2 - bounce not strong, strong selling pressure looks like price will retest low

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