'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, October 7, 2011

An ugly trading today as shown from this 5-min. chart.

The market (YM) really made  a very wild swing.

It leaps vertically before the open, then drops like a wild "crazy" horse, climbed up steadily, and abruptly loses its strength into the close.

That's how I can described the trading today as shown from the chart.

Today's market will make you crazy looking for a good setups, looking for setups today will really test your trading discipline.

The way the charts show, you can be stopped out often unless your stops are not wide enough because of the long wicked legs.

The market today was driven by the news and lots of noise, that's why volatility was  rough.

A very wild market indeed!