I could not have been more wrong about buying breaks and 1150 was not as solid of resistance as I anticipated. It worked for awhile but eventually caught up with me. I discounted the fact I was not getting paid on the long side as how the market has been trading. I held one a… Continue Reading
Monthly Archives: September 2010
Morning Take $ES_F 9/30/10
Overnight we had the Anglo Banks air their dirty laundry. GDP and Jobless claims did not have the negative affect that I thought they would. We currently have a gap at 1141.00. This is also an place of support. Yesterday’s high was 1146.75 and the high of the week is 1149.75. I see strong resistance… Continue Reading
Afternoon Take $ES_F 9/29/10
After the market opened we made an attempt lower to 1137.50 and proceeded to filled the gap at 1141.75. I was initially looking to sell rallies, it worked early. They are giving you multiple chances at prices. It feels like a trap and it could be. I expected us to continue lower after… Continue Reading
Pre-Market Outlook $ES_F 9/29/10
Disclaimer: Futures and options trading involves substantial risk. The valuation of futures and options may fluctuate, and as a result, Clients may lose more than their original investment. In no event should the content of this material be construed as an express or an implied promise, guarantee or implication by or from My Trading Network… Continue Reading
Mid-day $ES_F Recap. 09/28/10
Disclaimer: Futures and options trading involves substantial risk. The valuation of futures and options may fluctuate, and as a result, Clients may lose more than their original investment. In no event should the content of this material be construed as an express or an implied promise, guarantee or implication by or from My Trading Network… Continue Reading
My risk/reward strategy.
My risk reward strategy may appear complicated. I assure you I am not smart enough for my strategy to be both complicated and effective. I scale in and out of my position and trade around my core position. I look for 3-5 opportunities depending on markets conditions. My goal of any trade is to hit… Continue Reading
Pre-Market Outlook $ES_F 09/28
Disclaimer: Futures and options trading involves substantial risk. The valuation of futures and options may fluctuate, and as a result, Clients may lose more than their original investment. In no event should the content of this material be construed as an express or an implied promise, guarantee or implication by or from My Trading Network… Continue Reading
Overnight outlook. 9/27/10 $ES_F
Just looking at longer term charts, it looks like this market wants to turn over. 1113.00 needs to be support or we are headed much lower maybe to fill a gap at 1105. We have not taken out yesterday low as of 11:56 CT but I full expect to wake up to find us lower.… Continue Reading
Potential and curse
Human beings are drawn to potential. This happens in love, people, sports, lotteries and markets. We are drawn to what could have been more than what actually is. The grass is always greener on the other side, right? Not always, it is just different, it is where we could be. The brains’ default it is… Continue Reading
A chart records, it does not explain: Doji
As I said before, a chart records it does not explain. This article will talk about the doji. There are several types of doji. For a more complete list check out stockcharts.com. The basic definition is a close near the open. They are most effective on a swing high or low. A swing high… Continue Reading
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