Posts Tagged trading academy
I was thinking of how I could filter my trade choices so that I can eliminate the crappy ones and only get in when I should be and not for the sake of it.
Anyway, as you know, I like to enter reading stochastics and anticipating when they turn. I've not used the 1 min stochastics enough though and the price action does respond at the tops and bottoms. The plan was to see what the 5 min stochastics was doing and then time an entry in the 1 minute.
For example, my first trade, you can see th
March 5, 2008
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The market was looking extremely choppy when I got home.. the only thing I notice was that the market was in a trending channel.. you could have sold at the top of the channel and sold at the bottom of it for profits.
When the channel broke, if you had spotted it, you would have gone long and you would be laughing.. there was a heap of profits to be made. By the time this had happened, I had traded a few times and lost so had reach my limit... no more trading!!
I did trade on my spreadbet
March 4, 2008
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I am still on the simulator.. I've emailed my trading mentor but not a squeak from him as yet! Anyway, I made a few trades today.
The first trade was a long at 132850 which was a short term double bottom. The stochastics in the 5 mins were starting to cross at this stage. I had targetted 133250 which hit the target. However, the price action managed to get just shy of 133400 which was a previous peak. I got +16
Then the price action subsided and started to fall. The stochastics were still
March 3, 2008
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