My first trade in Futures - Mini Dow Futures last night.
Understand my mentor's strategy more after this trade.
"Must wait patiently for the trend to form and enter at the right point."
I charted on the 5 min chart, found the big trend within these few days.
It overshot the first and second yellow resistant lines, hit the third (top) one and came down.
I shorted at 13376 pts.
I waited at 13345 pts, the third low point (sorry the line was not there).
It hit there and bounced up.
Then it broke down the support line.
Almost shorted it at 13330 when it came up from low of 13319 pts.
But to play safe, as it was too far from my initial short of 13376, I gave it a miss.
It really hit 13330 and plunged down to 13268. What a waste! Hahaha....
As this was my first trade, I was still quite satisfied with it.
Waiting for it to hit the yellow resistant lines again and short it there. Pretty soon.......
Patience........
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