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

Friday, January 7, 2011

Observe & Trade


Showing the 1-min. chart from DJ-30 (YM) that was traded in Real Time Trade Ideas.

Using the shorter time frame to get the right entry and exit but relayed them to 10, 5, and 3 minute chart.

Exited at the arrow sign at 11,712 because of the red bars that starts to decline.

And was right to exit for after that it recovered a bit but then drops further.

Made just barely $70.oo for a contract.

Not bad for a quick trade for had to do more errands after this!