Friday's Market Action

The market gap down hard in the open due to negative jobless report.

Not a good sign on the first day of the month of June.

To trade the Friday's market is to short in the open and cover in (or before) the close.

Trading the market last Friday needs to analyze on a multiple time frame.

If you are trading on a shorter time frame (1-min.), you will possibly get chopped.

FB Is A Buy?

The way I can see, seems Facebook is now a "buy". Looks like it reached already the consolidation price. As "Booyah" Cramer always say...buy...buy...buy...

Thursday's Trade Setup

The market drops in the open due to unfavorable jobs report.

For today's trade on this 1-min. chart, the market consolidates from the S2 (support) line.

Notice the crossover MA's, and they are flat, a sign that something a reversal is on the way.

The best entry is from the support line, lower arrow.

And the exit is before the S1.

Analyzing How To Make Trade In A Choppy Market

Today's market marred by lots of chops and the only possible trade I can spot is the one I encircled.

But spotting it takes a lot of deep market reading and patience in watching the market.

By analyzing today's market, I can spot a quick trade "in-between" this choppy sideways move.

Notice I made a three horizontal lines showing the maximum low and high of the trading day.

And when it breaks the mid-range (lower arrow), we can enter a long trade with stop just below or in-between the two lower horizontal lines.

The exit is at the upper arrow by just projecting the equal distance from the middle line.

By watching the market keenly and analyzing the market from technical view, you can still spot a simple trade in a choppy market, like this one.

What The %&*$#@ Is This Chart

Shown is the 5-min. chart from yesterday's market and today's on going market action.

By just the look of it, it's hard to imagine where the market is headed for.

It's hard to figure it out what the market is doing right now.

This is the time not to do anything and just watch the market do its thing.

Tuesday's Market Action

The market gap up in the open only to reverse its move before noon.

To trade today's market is to buy in the open gap and sell before noon time when it starts to drop from the 10EMA.

The second trade is to short thereafter (the MA/EMA crossover) and cover from the R1.

Count down 3, 2, 1 to be a trader!

3) Focus on the psychology and mental skills that are necessary to succeed in the market. Learn to read the market charts in terms of the psychology of the other traders.

2) Learn about risk control in depth. What this really means, options available to you, how you can marry it up with your financial objectives in the market place etc.

1) Only when you have the above dialled in should you investigate ways of putting trades on in the most advantageous positions to generate the returns you are looking for.

I think if people were to count down 3, 2, 1 there would be many more successful traders.