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Summary for 8/21/03 It was a rough start this morning due to several whipsaws early on. Due to the whipsaws, I stood aside and missed a range entry (long) at 9:43 am. at 9415 that would have been great. I’ll try to keep this in mind and be a little more persistent at taking second and...

10:01 am. Stopped out at 9472 (+34 points)

10:00 am. moved stop to 9472 below previous bar due to report.

9:53 am. currently long 1 contract at 9438. p.s. at 9431 and will begin to trail it 3 bars back. Very tough start this morning with lots of whipsaws, but this trade is starting to run. Report out in 5 minutes so I'll be looking to tighten up stops soon.

9:51 am. -1 @ 9432 stop and reverse at 9438 (buy 2).

9:43 am. +1 @ 9417. Stopped out on trade #2 (retracement). I'll stand aside for now since I'm getting conflicting signals. There was a second range trade entry to go long at 9:43 am. and also a retracement short is setting up. A new resistance level has formed at 9437 for range...

9:40 -2 @ 9412 (-4 on #1) stop and reverse at 9412 for retracement. p.s. at 9417.

9:38 am. +1 @ 9416 - Range trade. Initial protective stop at 9410.

Support level for am trades is at 9422 which was resistance from yesterday. Waiting for test of this level to set up range trade

4 Trades: 3 winners, 1 loser. Gross P&L: +18 pts. Net P&L: +10 pts. (2 pts./rt for slippage and commissions) Trade #1 Retracement 9:32 am -1 @ 9368 9:39 am +1 @ 9369 (-5) Although I’m not using the Globex data for purposes of support and resistance levels, I have the session...

Trade #4 stopped out at 9368 per 3 bar rule (+4)

New resistance level at 9396 for range trades. Trailing stop on trade #4 is 3 bars back - currently 9367. Possible retracement add-on entry forming here.

10:08 stop moved to 9364

10:04 +2 @ 9364 (+9 on #3) initial stop at 9356

10:00 am -1 @ 9373 initial stop at 9379. Looking to stop and reverse here.

stopped out at 9383 (+10) I wasn't quite on the ball with the 3 bar trailing stop. I should have exited at the break of the low of the 9:54 am bar at 9387. I won't take any more retracement trades in this direction (only take the first retracement in a series. Now watching for a test...

9:51 am Move stop to 9377

New support level formed for range trades at 9360. Missed retracement entry (long) at 9373 at 9:42 am. I'll follow it anyway. Initial stop at 9369, now moving to 3 bars back per 10 pt. rule. Stop at 9371.

9:39 +1 @ 9373 (-5)

I'll start posting trades as they occur - little late getting this one out, but I'll try to improve as I go along. Retracement: 9:32 am -1 @ 9368 initial stop at 9373