Posts Tagged breakout trade
The markets had fallen hard the last couple of days and I thought that they would have fallen a lot more but yesterday, the markets found some support. This pattern was seen across the DOW, FTSE and other currency pairs. I knew that a lot of people were expecting the markets to tank completely but having a whole day where it consolidated presented an opportunity in my opinion. The markets would either rally or drop like a stone and I expected whatever happened the market would have moved str
March 8, 2012
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![Trading the DOW futures market]()
I got home today and decided to see if I could quickly scalp the DOW jones. You can see that the market fell shortly after the open and bounced back up a little. I was looking for a long trade if the market went above the previous high. I had an order at 10385 and was looking to ride it as far as possible, selling out as soon as I felt some resistance in the market.
Well, the order triggered and went up nicely... the first port of resistance was the big round number at 10400 and I got out aro
June 17, 2010
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Hope you like the title of the post! It's my attempt at some rhymning!
I hope my chart diagram makes sense below. My strategy now is to trade two lots at the entry price, one has a target of 30 pips. The other has a 60 pip target which, when the first trade hits it's target moves the stop loss to entry (to hedge from any loss) and then hopes to grab the 60 pips.
Well, the first target was hit for 30 pips.. yay! The second trade still runs but the stop moves to entry. However, the market sp
April 13, 2010
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