Posts Tagged standard and poor

S&P day trade today

S&P day trade today

I've not traded the S&P for ages now... however, I thought I would have a look and I got my entry... In the past, I would have been tempted to short as the market was looking to top.. however, the trend is your trend as the old trading adage goes and the market was merely consolidating. I entered near the top of the previous move upwards (not a particularly good entry) at 843 and I had my stop at 839. The price action came incredibly close to my stop (within 1 point) before it headed u

April 21, 2009 No Comments Full Story

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

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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