Archive for January, 2008
I didn't get a chance to trade today...
After last nights trade on the Fed result and making a profit, I discussed the methodology with my trading mentor, he said that in usual circumstances, the move is not usually so strong so it's a strategy which he doesn't recommend. Oh well, nevermind!
Anyway, I was browsing through Michael Taylor's blog today, he trades the Emini S&P contract also and he makes it look so easy! His blog sits here: http://www.daytradeemini.com/blog/
Maybe I sh
January 31, 2008
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The markets were in a range prior to the Fed announcement so I put in a long order above the range at 136400 and a sell below the bottom of the range 135500. Anyway, when the Fed announced a cut of 0.5%, the market shot up.. my long entry was triggered and I manually closed it when it hit some resistance at 137000.. I got out at 137025.. however the market did go to 138000 and then fell.
I took 26 prices.. phew! I don't know if this is a strategy which my trading mentor will be happy about b
January 30, 2008
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Today was a bit frustrating.. I entered two long trades as per the two green arrows in the attached chart.
This picture is how I feel today!!
The first trade I was seeing a move beyond the previous swing high.. stochastics were already high but I thought it wouldn't turn.. I was targetting around 136300 at this stage. The market was at one point about 10 prices in my direction but for some reason, I was convinced that it would go up more.. even when it dropped after bouncing along t
January 30, 2008
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