Observe & Trade*

Friday, January 7, 2011

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!

Exited at 11660 for a gain of 14 pts.

Looking good! Will exit if it goes up by 10 pts.

Looking for an exit at around 11668 to 11670 and will move the stop to break even if it goes up to 5 pts.

Bought YM at 11644 with stop at 11632!

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.

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!