I saw an opportunity on the S&P, the price action had found a temporary base at just below 855 and the stochastics and MACD were indicating that a turn maybe on it’s way. I am always a bit hesitant when trading the S&P as my stake size has a minimal size. However, when one sees an opportunity, a good trader needs to take it… so, being the best trader that I could be, I went for it and went long at 856 or nearabouts.

My two winning trades on GBPUSD and GBPJPY means that I had profit in the bag and if I end up losing on this one I know that I will get annoyed. It’s always nice to finish with an ‘up’ day… and if I’ve already bagged profits, then why should I go and try and trade again risking profits? Well, as I mentioned, a good trader needs to take opportunities when they come.

My initial target was 860 but when it looked to flag, I got out at 859. The market then dropped to near the support line again before bouncing up…  if I was still in this trade, my target of 860 would have been hit but it could have easily not been.

So, +3 points on the S&P also with 3 out of 3 positive trades in the bag today!! Great stuff

Tags: 5 minute s&p chart, daytrade, daytrading, futures trading, macd, s&p trading, spreadbet, Spreadbetting, Trading, trading blog

I made one trade today, long 141225 when the 4 min stoch and MACD were looking like they were heading up. The 15 min stoch also was heading up…  I was cautious as the MACD was still in a sell state.

I bought in and the market moved quickly upwards, it reached my 10 prices and I moved stop to breakeven. However, soon after this market fell and stop got hit. I ended up with no loss or win…

Tags: contracts, daytrade, daytrading, divergence, double bottom, dow, dow jones, emini, futures, long, macd, pips, prices, short, stoch, stochastics, technical analysis, Trading

Our trading mentor informed us not to trade until his say so after Bernanke said his thing. Bernanke took over from Alan Greenspan and is currently the Chairman of the US Federal Reserve… when he has something to say, the markets can move and when I came home, I saw that the market had shot up and generally looked rather choppy. I wasn’t sure I’d be able to find an opportunity today but I did.

I shorted the market as it reached the previous high of the day at around 142900. I got in at 142875 and rode it for 10 prices to 142650. I was a bit careful with it as it had been in an upward trend for the 30 mins and even though the 5 min stochastics and MACD were in overbought territory, the 15 min charts still had room to manoeuver.

At some point, it did look like it could have moved lower but I’m glad I made the decision I did as it has shot up since and making new highs for the day.

Tags: bernanke, contracts, daytrade, daytrading, divergence, dow, dow jones, emini, fed, federal reserve, futures, macd, pips, prices, stoch, stochastics, technical analysis, Trading, trading blog, trading news