Tuesday, April 07, 2009

ES Trading - 6 Apr 2009

Dear fellow traders :

Shorted the ES based on the S&P500 10 min. stochastic trending downwards.

But the position turned against me quickly for about -5 points. The 10 min. stochastic was still trending downwards thus my plan was to cut loss to lesser damage. Managed to got out with a -0.50 points loss. Realized I could have profited if I hung on a bit longer since the ES did plunge later (circled in red).

But I was not going to fight the trend when I was planning to cut loss initially. Overall damage -$37.50 (0.75 point).


Tony Chai