Archive for January 30th, 2008

S&P emini Trading – Awaiting the Fed announcement

S&P emini Trading - Awaiting the Fed announcement

The markets were in a range prior to the Fed announcement so I put in a long order above the range at 136400 and a sell below the bottom of the range 135500. Anyway, when the Fed announced a cut of 0.5%, the market shot up.. my long entry was triggered and I manually closed it when it hit some resistance at 137000.. I got out at 137025.. however the market did go to 138000 and then fell. I took 26 prices.. phew! I don't know if this is a strategy which my trading mentor will be happy about b

January 30, 2008 No Comments Full Story

S&P trading blog – entered at the right place but exited the wrong place

S&P trading blog - entered at the right place but exited the wrong place

Today was a bit frustrating..  I entered two long trades as per the two green arrows in the attached chart. This picture is how I feel today!! The first trade I was seeing a move beyond the previous swing high.. stochastics were already high but I thought it wouldn't turn.. I was targetting around 136300 at this stage. The market was at one point about 10 prices in my direction but for some reason, I was convinced that it would go up more.. even when it dropped after bouncing along t

January 30, 2008 1 Comment Full Story