I'm sure you've all read or heard the saying, 'trade what you see, not what you think'. Well, that's precisely what I didn't do yesterday.. I kept on wanting to go short yesterday whilst the market kept on wanting to go up. I took 3 trades, all short at various levels and got stopped each time. Look at the red arrows on my chart. I kept on thinking that the stochastics would turn and would turn the markets.
Archive for November, 2007
Hi all, My website has been down since last night as my ISP had decided to change all the database passwords which knocked out the blog. I could not upload to update my scripts as they had also messed up the FTP login details. I will update with my trading stuff from last night later on today. Thank you!
Two trades today. I shorted at 146925 as I saw the stochastics cross. However, I was a bit conscious that the market was so bullish today and any countertrend would be short lived. I took a measly 3 points. The next trade was a buy as the price action bounced off the 5 day EMA line. All day it had been above this line. I got in at 146850 with an initial target of 147100. However, when the market got to 147000, I took profit after seeing a heap of sell orders above this level. As soon as I