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

Friday, June 22, 2012

"I didn't shortcut anything"

"It was a journey for myself," he said. "I don't want to compare it to any other player. Everything that went with me being a high school prodigy when I was 16 and on the cover of Sports Illustrated to being drafted and having to be the face of a franchise; everything that came with it. I had to deal with it, and I had to learn through it.

"No one had [gone] through that journey, so I had to learn on my own. Everything that came with it, I had to basically figure it out on my own."

And then, James would say: "I'm a champion, and I did it the right way. I didn't shortcut anything."

Miami Heat's James holds the NBA Finals MVP trophy after his team won Game 5 of the NBA basketball finals against the Oklahoma City Thuner in Miami

Thursday, June 21, 2012

Thursday's Short Trade

The market was a little bit choppy early in the open.

But it shown a downtrend move when it crosses the S1 the second time.

That is where the most probable entry on the short side.

From thereon, it went down lower from S3.

I guess the participants are taking their profits.

Boring Market

Yesterday (Wednesday) and today's market can be considered a non-trading day.

As can be seen from today's chart, the market is quite choppy.

Can't distinguished what the market is doing.

This is the time to stay out in the market and just watch from the sidelines.

Tuesday, June 19, 2012

Tuesday's Market Trade


The market gap up today and the best entry is to buy at the pullback from the R1 as shown on this 5-min. chart.

The exit is at the R2 as shown in the upper arrow.

A very smooth upward trend from today's market.

The best trade today is to buy in the open, since the overnight session is all on the positive sentiment.


Monday, June 18, 2012

Monday's Market Trade

The market open below and made a stunning reversal within a few minutes into the open.

Buying at the previous close price level and sell an hour before the market close is the trade for today.

Not much quite volatile in today's market except a major pullback from the R1 level.

It retrace a bit but able to regain its momentum.

You can make a second entry from the pullback and can still make a decent profit if you were not able to catch the "meat" below.

That's why in trading, those who are patient enough to wait can still profit from what the market offers.

Just like this one!

Saturday, June 16, 2012

Trading Like There’s Nothing To Lose | Prudent Trader

Trading Like There’s Nothing To Lose | Prudent Trader

Friday's Market Trade

Friday's market action was a smooth upward trend.

A typical buy in the open and sell in the close is the appropriate trade.

Not much noise last Friday's market.