I was also watching the S&P as it was trading between a consolidation channel between 855 and 860. It could have been a long above the break of 860 which it did but I am so cautious and have been caught out by these sort of trades many times so I thought that perhaps I may enter on a pullback. The market looks like it is make a pullback now but the relative lack of strength when the price action went above 860 looked rather weak.. however, saying that now, it would probably shoot up…

I need to be completely confident in the trade and there is just a feeling of something which isn’t quite right so I’m going to stand back this time…. we’ll see!

Tags: daytrade, daytrading, futures, futures trading, trading blog

I got in the perfect entry today after seeing the market was trending down and I got in at 8382..  I got out far too early though at 8355 so grabbed only 27 points.. the market fell as far as 8285 which was a further 70 points..  I am finding it difficult to hold onto profits and 27 points is so measly compared with what it could have been!

Tags: daytrade, daytrading, dow, dow jones, futures, futures trading, Spreadbetting, Trading

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 profits trading the Dow but as usual, I failed to capitalise… still, +42 isn’t bad!

Tags: daytrade, daytrading, dow, dowjones, emini, futures, investing, makemesomemoney, Spreadbetting, Trading, trading blog, trading mistakes, trading profits, trading psychology