'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Tuesday, January 4, 2011

Observe & Trade


Traded YM today as mentioned from Real Time Trade Ideas.

The entry was at 11610 with a stop at 11590.

When it moves by around 10 points I moved the stop at break even.
But when the big red bars appears, I exited the trade at 18 points gain.

Not quite a good trade selection though, considering the other sectors where all at selling climax.

Was not quite paid attention to my conscious brain (or unconscious?), for the market is on the bear side.

I trade against the trend!

Trading is about learning oneself, need more learning paying attention to myself.

Because in trading, the enemy is yourself!
Note that I am showing the DJ-30 chart which is identical to YM e-mini.