TGIF

Nov 7, 2008

I had to make a change to my plan on game day today. Easy money on Friday is usually in the morning session, specially when there is a move underway and the market is somewhat biased for a retest of resistance.

I took my first probe trade at 10 AM today, it didn't take any heat and I had a quick profit with some market money to trade with. I was a bit nervous and was trading small because I was expecting a push from the sellers to check support at the opening level around @ 1257.

NQ 75 Tick


In total I had about 5 trades, 3 long trades and 2 short trades with one losing trade. Even thought I missed the meat of the move up I was happy with my early profits and decided to call it a day. It's a nice was to end the week with $700 in pocket change and another $300 from the Globex session trading last night.

Trade Summapy


We will find out at the end of the day if the bulls have managed to put in that swing low that I mentioned in the previous post. As I write this post (11 AM) I see we are still trading under R1 @ 1274 and under the 20 day MA, so we are still trading in the bear zone.

A shout out to my friend Marius, if you're reading this I finally came out of my draw-down today. My recent switch to NQ from ES was a good choice, on the mental side it was a smart move to trade smaller after a draw-down. Also I am happy trading both the Long and Short side and not allowing my fears and minds to get biased to one side. Sometimes you got to face your fears head on, take those stops as they come and keep looking for the setups and taking them.

Have a good weekend Traders ... next week things should start to shape up, and hopefully we can catch a few trend days this month.

Profit