Up and down, luckily I was on the right side of the market! S&P Emini trading
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 that the stochastics were on their way up.. there was still room to go. Ideally, I would have liked to got in earlier but I got home a tad later than usual today. I look at the 1 min stochastics and if you look at the chart, you can see where it had dipped towards the 25 level line and then crossed upwards indicating a buy.. this is where I entered.
I did the same with the short later on though this was not as clean… it hadn’t moved away from the 75% level but the market had still crossed towards the downside. I knew that it was already quite low so I expected a bounce at the next obvious level 132500 and I called this correctly.
Quite satisfying today and I made +16. I’ll try the same tomorrow and see how it goes.
