Posts Tagged emini

More stock market carnage

More stock market carnage

I read officially that we are in bear market territory, this is where the markets have fallen 20% from their highs... the state of the economy is not looking good and the financial sector especially is takingĀ a bashing. However, I took a few scalp trades today... I am having some real problems holding trades which is my biggest weakness in the markets... trading psychology plays a huge part and I am letting myself down when the markets are going my way.. I feel inclined to take a profit whic

July 9, 2008 No Comments Full Story

Bagged some profits trading the Dow Jones..

Bagged some profits trading the Dow Jones..

I entered this trade after seeing downtrend pattern in the 5 min charts looking to turn. The stochastics were also oversold and looking to head upwards. In the 1 minute chart, the 20 minute moving average line (which was functioning as resistance) became support and I traded off a bounce and got in at 11244. The market soon shot up and bounced off 11300 and I closed out at 11286 for +42. The market has since reached 11360 which is another 74 points which I missed out on! I bagged my pro

July 8, 2008 No Comments Full Story

Don’t get greedy, trade what you see not what you think!

Don't get greedy, trade what you see not what you think!

I saw a nice descending triangle form on the 5 min SP charts today as you can see... I have drawn in the descending triangle on the chart and the baseline. I shorted at the top of the triangle but as it had already made almost a triple bottom, I was expecting it to fall through netting big bucks! However, the fourth time it reach the baseline, it didn't fall through but bounced up stronger and through the triangle, taking out my stop. I feel frustrated that it didn't work out.. I was a nice +2 p

June 11, 2008 No Comments Full Story

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