Momentum was down in 30min charts. Got in while it was correcting up in 5min charts (low risk entry). I didn't even look at the gap. That's all. I am using a momentum strategy. No way to know when it will give a good trade or not. I just have to take all of them and see...
ESTX50 out 1 @ 3832, -1 pt. (let's not get too greedy here... everybody can see the downtrend by now, and it seems we may correct higher.) Still holding 1 short from 3859.
Trades closed on Fri 22/Sep/06: --------------------------------- ESTX50: +28 pts, 4 RTs. SMI: +66 pts, 1 RT. GBL: -4 pts, 1 RT. --------------------------------- Sleeping overnight: ------------------- 1 ESTX50 short from 3859 (+24)
Weekly summary, week ending on Fri 22/Sep/06: --------------------------------- ESTX50: +113 pts, 16 RTs. SMI: +134 pts, 4 RTs. GBL: -96 pts, 17 RTs. --------------------------------- Account balance (22:55 CET): $16,196 Weekly return: +$517 +3.30% Total return: +$3,196 +24.58% * The account balance is less than what it should be according to the results above, due to a couple of open forex trades in the red irrelevant to this journal.