I got home and the markets were choppy. The stochastics and MACD indicators in the 5 min and 15 min charts didnt correspond.

The only entry I could have made was a short around 147000 when the market failed to go higher from here. This was a resistance level set previously today and was what is called a peek top trade. This corresponded also with a cross in the stochastics in the 5 min. However, due to the nature of the markets today, I didn’t take it.

It’s always best to conserve capital… if you’re not sure about a trade, then best to keep out of the markets and conserve capital. There are opportunities every day!

15 min chart

5 min chart

I was reading other trader blogs and I agree with Mr One Bad-Ass Trader who says that you can improve your trading by looking watching trading videos. You can see the post if you follow as below:

http://onebadtrade.blogspot.com/2007/11/improve-your-trading-by-watching.html

In addition, a few days ago I posted a link to listen to interviews of successful traders… here it is again

http://www.traderinterviews.com/