Posts Tagged trading psychology
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 looki
January 8, 2008
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I was anticipating my first entry at around 19:00 GMT when the market was bouncing up. I was hoping for an entry at around 142500 (or just below) as this was the 5 day MA. I was a bit cautious and wanted to wait for this level as the stochastics were already in the oversold region. However, the bounce only made it to 142400 before dropping and therefore no entry this time.The 15 min chart is showing a short for both MACD and stochastics.
I will see if there is another chance for entry… th
January 7, 2008
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I closed the long trade yesterday as it was starting to look hairy for a 50 pip loss.
I've yet to go back to the S&P emini trading since we are still seeing relatively low volumes. It may be better for me to get back to it next Monday!
January 4, 2008
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