Friday, January 7, 2011
Thursday, January 6, 2011
Observe & Trade
The market is "confused" today for there are no clear tradeable pattern emerge.
Except from the ES and YM, but you must be seasoned enough in trading to trade them based from my opinion.
The TF and NQ should have left off by themselves for there are no clear direction.
All in all, this is the time (today) not to get involved in the market for it can easily chopped our trades.
Wednesday, January 5, 2011
Observe & Trade
The market recovered from the steep decline yesterday.
The three core index went on a vertical leap except the TF.
Showing the 10-min. chart from the QQQQ (NQ), SPY (ES) and the DIA (YM).
Buying late in the open is the right entry time for a long trade.
Exiting at the close is not a problem for they behave well.
The bears are afraid and nervous!
Trade Ideas
Showing this 10-min. chart from Russell 2000 (TF).
A huge decline from the previous trading day's surge.
A double top formation if I may conclude.
Notice that it drops further from the previous day's open.
A dramatic profit taking and lots of "shorters" took the opportunity.
Shorting at the open can give you a nice payday for a week?!
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.
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