Make Me Some Money – Trading Forex, Gold and Indices Choppy markets but still some profit to be made! S&P emini trading - Make Me Some Money

Choppy markets but still some profit to be made! S&P emini trading

I am still on the simulator.. I’ve emailed my trading mentor but not a squeak from him as yet! Anyway, I made a few trades today.

The first trade was a long at 132850 which was a short term double bottom. The stochastics in the 5 mins were starting to cross at this stage. I had targetted 133250 which hit the target. However, the price action managed to get just shy of 133400 which was a previous peak. I got +16

Then the price action subsided and started to fall. The stochastics were still showing a buy signal and I felt this was a good entry so I entered again at 133125. I was wrong however and took a hit at 132975 for -6

Ok, then the market fell further and went below 132850 which was a support base I saw. I shorted at 132775. The stochastics had also turned lower here so I thought this would be a good move. Unfortunately, I was wrong and got stopped for -7… this was quite an annoying trade as the market retraced here all the way to 133100 before falling straight through my previous entry level and then my limit order!! Annoying!

Darn, my +16 had now diminished to +3!!

The market then fell and I entered short at 132650. I was targetting 132300 as the first exit. The market went as low as 132450 before bouncing up to 132850 and then went straight down. I had moved my stoploss down to entry as it moved lower so I got out for a scratch trade. The market did go down to the intended target!

My last trade was a long trade at 132325. The stochastics had crossed and now moved above the 20 line… also the MACD in the 5 mins were crossing at this stage. My trade hit my target at 132575 for +10. However, not the stochastics still had further to go when I had already closed out… the market has got as high as 133250 so I need to learn to be brave and hold out until the stochastics reach the top end of stochastics for greater profits.

Overall +13 today!