Archive for the Trading Category
![Amazing Luck or Skill?]()
As per my previous post, I closed my short seeing the stochastics being at a low... However, what surprised me was when I next looked at the chart... it short up, my exit being the low point and shooting up 100 points.
I was lucky to get out where I did.... can you say it was skill? I really would like to think it is but boy, the market does funny things most of the time so I am more inclined to say that it's luck!
Anyway, what I did miss out on was the move upwards... the pivot level is t
August 10, 2010
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![Shorted DOW after it's retracement]()
The DOW was clearly in a downtrend today but when I got to the charts, it was retracing and I looked for an entry to go short. I went short around 10610 after the retracement make a double top in the 5 minute charts (also stochastics has peaked). The first support line was at the pivot point S2 but nothing happened and the market broke through this relatively easily. I was also conscious that stochastics were at a low too and would look to making some move upwards so when the market hit 10585, I
August 10, 2010
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![Went Long on DOW as it broke resistance]()
So today the DOW had been not doing much bouncing between 10300 and 10380. I was looking for a break either up or down to time my entry. I had an order at 10403 which was above the range but also above the round number.. round numbers are always areas of relatively strong resistance so I was mindful of that.
Additionally, the pivot was around 10429 or so which would be another hindrance to price moving upwards.
Anyway, my long was trigger and I managed to grab 25 points which was pretty aw
July 23, 2010
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