Posts Tagged technical analysis
I totally forgot about the Fed today, it was only when my trading mentor phoned up to tell me about it, I closed my initial trade for a scratch trade at 139725. Typical, they only call me up when they want me to do something.
Anyway, I waited for the Fed result to come out and watched it.. the DOW hit the 13000 mark and then sold off. The market then formed a triangle pattern before breaking out to the downside. I sold here at 139875 and felt dead proud of myself. The market didn't do much fo
April 30, 2008
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I figured that there is no point in grabbing small profits and also no point in getting out of a trade unless conditions change... I read that somewhere from a top trader in a book.
Anyway, I think my short was not a bad entry at 139325. The 1 min stochastics had eased off and the 5 min stochastics was indicating a sell. The 15 minute stochastics looked like it was turning. The market did start to move south and hit a low of about 139175 before moving upwards and gradually taking out my stop
April 29, 2008
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I haven't heard anything from my trading academy despite me leaving numerous messages with them to call me. I have a deadline of the end of this month to bring my account to the black.
Anyway, I started my trading with a loss, -5 when I shorted at 140225 with a stop at 140400. As the market moved down, I moved my stop down to the previous swing high (bad mistake) and I got stopped out for -5. If I hadn't been stopped out, I would have been ok.
Anyway, I entered again when the market went t
April 28, 2008
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