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Trading Day Recap & Prep Work
Dow mini trading results - 08/26/2010
The market opened slightly higher this morning but didn't show any strength after the
open. It filled the gap within 20-minutes and drifted lower throughout the day. Early in
the day I was working with someone who is learning to trade one of the modified
trend filters on a lower time frame so my first three trades were on that lowest time
frame that I use. That is a great way to trade in this slower market that we have been
in lately. I almost wish I had pulled it out of the toolbox earlier in the Summer when
things were very slow because it is great in tight spaces.
Much of the morning was centered around the crunchy at 10,043, which was in the
lower portion of the area between the morning edges. My last trade was the first sell
on the break of the lower edge. I made a mistake in not allowing for the test of the
crunchy with my entry so my stop was hit on the way to the test and by then it was
lunch so I just called it a day and didn't re-enter after the test. The trade was fine but
not allowing for the test is like sticking your stop out as bait to be taken.
Volume has picked up a little this week so hopefully the volatility will as well here as
Summer moves towards Fall. There is still a lot of slow time during the day where we
can be working on aspects of trading and the system that you need help with so
please don't hold back your questions. The Summer has developed patience in a lot
of you this year. Maybe even against your will, but the market is going to change soon
so its time to be training on the next phase so that you will be ready. Ask for help and
if you want to work on some of those range techniques while it is still slow just let me
know in the room.
(Here is the prior Post).
Results:4 Trades Date: 08/26/2010 Gross Points This Week: 92YM
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