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

Wednesday, November 30, 2011

Looks like the trade is gaining ground...will look for a target above 12000...
Bought YM at 11957 with stop at 11949...
Exited the trade at 11980 for a gain of just 19 points...was at the wrong timing and location to put on a trade...
Looking to target sell at 12025...
A very unusual triple pump move by the market today!

Was not able to put on a trade early in the open due to pressing matters.

The market is calm as of this time, not much noise.

Will try to put a long trade at 11961...let's see if it won't get stopped out at 11945...for the YM...
As I mentioned from my earlier post, unless there will be a positive news that might erupt from somewhere, the market will rise up.

And I was right with my perception, the market is just driven by the news.

It might  be hard to put on a trade in the regular open today for the market already went up by almost 200 points in the Dow (YM).

Because the market always make its big move in the overnight session.