Journal - 10/8/04

Well, hesitated again big time! Missed several 2-min pb10ema entries on the ZN, EUR after big move caused by non-farm payrolls report. Then, hesitated on shorting ES after short squeeze pushed it to 3-min 50ema. Also missed short on ER2 pb10ema.

Trade

02:50 - L EUR 1.2330 stp 1.2324 - trend, 2-min pb20ema after big up move
03:12 - Exit 1.2332 +2 ticks - taking too long (22 mins in the trade), nft

Note: Kept initial stop after entry because I expected stop gunning at 1.2329. As expected price run stops to 1.2327 stayed there a while then moved up. I held longer because charts remained positive. I exited eventually because price has not made any progress. The expected trend resumption has not materialized and we could be in a long sideways move. Of course, we know that after I got out, price moved higher just as if it only waited for me to get out.

Idea! CCI divergence on the 2, 3, 10-min charts was present when I entered but because of the strong up move, it resulted in a longer sideways action instead of a reversal before an eventual trend resumption.

Journal - 10/7/04

Two trades resulting in small gains. I still missed one good opportunity again but did not hesitate and traded the succeeding two setups that showed up. Hopefully, progress could be made in resolving hesitation problem that has been plaguing me the last week.

Trade 1

03:38 - S GBL 115.57 stp 115.60 - trend, 10-min pb10ema
03:56 - Exit 115.55 +2 - nft, taking a long time

Trade 2

08:58 - S ZN 111'270 stp 111'285 - trend, 5-min pb10ema
09:09 - Exit 111'265 +1 - nft

Hesitation, hesitation, hesitation!

HSI formed double bottom with oversold stochastics but I hesitated fearing that a wrong entry on HSI could go against me really based on observations of how HSI moves. The trading demon of wanting to be certain froze me from pulling the trigger.

Journal - 10/6/04

No trades made. Could not focus so decided to call it quits.

Journal - 10/5/04

Another disappointing day! No trades made. Market in sideways action.

Grrrr...did not pull the trigger on 1 ER2 cci bullish divergence setup on 3-min chart after an opening move down. Market has been in bullish mode so a bullish divergence was high probability with low risk.

Journal - 10/4/04

Bad day again - 1 breakeven trade and hesitated again on one good ESTX50 setup so missed good profits. U.S markets were choppy at start so no trades there too.

02:22 - S GBL 115.25 stp 115.28 - trend, 3-min pb10ema, low vol pb
02:31 - Exit 115.25 b/e - didn't like push back with higher volume

Note: Price moved favorably, a good sign. Tightened stop when price moved +4 but price wouldn't break down. Then, a push back with volume didn't look good to me, so I got out.

Here's ESTX50 chart on missed trade and profits.