'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, December 7, 2011

A pattern like this usually breaks out till the conclusion of the market, let's see if it will...just bought one contract at 12090...

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By Barry Ritholtz - December 7th, 2011, 10:30AM
A friend sends this quote, which I really like but have been unable to verify:
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“Give a man a gun and he can rob a bank. Give a man a bank and he can rob the world.”-Jim Trotter
Can any one confirm that is a real quote by Mr. Trotter?
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Bought YM at 12090 with stop at 12060...
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The market is showing some weakness as shown from this overnight session.

There are some not so good news that are coming from Europe.

I guess there might be some random movements in the regular trading.

Let's get to work and keep watching.

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Tuesday, December 6, 2011

Showing the market conclusion today.

Overall, it made a nice move!

I can find two good setups here, the one at 1:00 pm. ET. and the other at around 2:30 pm. ET.

Those are low risk entry per our trading parameters.

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Was out from trading today due to some pressing attention.

The market made a tight upward consolidation today and found some interesting setups.

Might be in for a next upward breakout and it takes a lot of patience to look for the right entry.


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Decided to exit the trade at 12110...not a good environment...wait for the next trading day...
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