Chart courtesy of AMP Trading, get a free demo account and paper trade.

pretty nice day of trading on the ES contract

Okay, I made one of the most boneheaded trades I have attempted in a while today, and had to reverse course to regain my composure. I thought, as the trade was going south, “What the hell am I doing?” You will have those kind of cathartic moments from time to time.

There was a good bit of news driving the market today, and, at times, the traders had a hard to trying to make out just what the news meant.  But then Ben got on the blower and said not to worry, things are just fine, end of recession.  I’m wondering if all of those people out of work were thinking the same thing.  I doubt it.

Anyway, there was a good deal of movement that was fairly logical in nature to work with today so the trading was fairly steady and predictable.  I like that.