NQ Futures Wed. March 4, 2009
I entered 2 contracts short at 1116.00 before 4 PM EST,
with a stop at 1117.00.
As expected it dropped and fell to 1101.00 at 4:15. I had moved my stop to break even after the first 4 points and at 1108, moved my stop to:
1110. GTC rather than a day order. Thinking that if it retraces 6 points is a good profit; there was so much downside momentum that I wanted to capture as much profit as I could. My Target was 1100.
When futures re-opened at 4:30, NQ ran up past my stop and within a few seconds fell to 1103. So electronic trading bought to close my short position at 1112.50. My rude awakening for today!
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