Archive for the Emini futures Category
I shorted the market at 11502 and for a while it was doing ok, it went down and was 15 points up at one stage. Judging by how much I dislike this trading instrument (I really need to ween myself off it) I was keen to move the stop to breakeven as soon as I could as the market moved my direction.
Anyway, the Dow being the Dow took out my stop which was 11502 for a scratch trade! I think the market is heading lower though...
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July 22, 2008
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I went short on the break of the support line today at 11430. I was so sure that we would see a huge move that I went in 3x normal size. The market moved 10 points my way and then reversed tricking myself (and I'm sure a lot of other shorters), taking me out at 11455 for the equivalent of -25 x 3 = -75! Ouch!
The moral of the story is to always bet the same size for each trade.. afterall, you just never know what will happen as we see today. The markets are notorious for doing this sort of th
July 21, 2008
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I read officially that we are in bear market territory, this is where the markets have fallen 20% from their highs... the state of the economy is not looking good and the financial sector especially is taking a bashing.
However, I took a few scalp trades today... I am having some real problems holding trades which is my biggest weakness in the markets... trading psychology plays a huge part and I am letting myself down when the markets are going my way.. I feel inclined to take a profit whic
July 9, 2008
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