Stockmarket crash!! Profits and going live again – S&P emini trading log
I got home a tad later than usual today, delays on the Tube system. I lost 30 mins of valuable trading time but when I got back, I was glad to see that I had not missed anything in the 30 mins.
Anyway, just after 7pm GMT, the market was starting to retrace from the short term high at 143250 and I was initially thinking of an entry to go long as it hit the 5 day MA and also the 50% Fibonacci line.
However, at the same time, the MACD and stochs in the 5 mins were looking overbought and looking to cross to initiate a sell signal. Dilemma!!
Anyway, watched a bit more and when it failed to even acknowledge the support at 5 day MA and the Fib line, I went short and got in at 142800. My target was 142275.
When the price moved 10 prices I move my stop down to entry.. ok I had a free ride now.. no risk!
My target was soon hit, hoorah +21 prices!
However, market dropped even further all the way to 140100 or so… that’s almost 90 prices which I left on the table!! Drats! However, remember (I’m sure I’ve said this many times) is that a profits a profit!
I also spoke with my trading mentor about my progress and he said that next Monday I would go live again! Hope I don’t balls it up this time!
