Monday, 3 October 2011

Waiting to trade...

Well it's all too barren here on my trading journey blog, I seem to have been the victim of some sort of fraudster on Amazon selling Windows 7.   Nothing arrived, it's been over 2 weeks since it was supposedly sent.  Never mind, the card people at the bank will sort that out.  Meantime I bought another Windows 7 online - let's hope this one turns up.

I've not been looking at what my indicators have been doing since I can't trade just yet, until I get Windows 7 running with Ninjatrader and Investor RT, but I had a look today to see whether it picked anything out of of the action;

Sell signal on YM (E-Mini Dow Jones futures) triggered at 17:05 today;

Equivalent short point on E-Mini NASDAQ;

Entry point based on the indicator sell signal at 17:05 was 2129 on the NASDAQ, my standard trailing stop of 8 points would have been taken out following a bounce, at 2101.75.  That's 27.25 points - a reasonable move. Before I start trading again I'll need to review my 8 point trailing stop, based on the volatility right now it looks like a 10 or perhaps 12 point trailing stop would be more appropriate.

I really hope we are moving into a long term bear market since my system has typically netted more points on the downside, and I want to take advantage of that.

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