The Fractal Futures Trader
Archive for ‘emini charts’
ES Emini Trading Question
the price action had been hovering around the SMA for quite some time. I like the trade.I suggest not taking countertrend trades when the price action is significantly below the SMA. Especially if the SMA is showing a clear trend, which isn’t the case today.
ES Emini Trading Divergence
I thought I would talk a bit about trade entry today and how divergent indications on some of the oscillators I use indicates the need for caution. Emini trading is a process of choosing the highest percentage trades, and conversely, avoiding the lowest percentage trades. The ultimate goal of any trading system is to maximize the binary result of any trade, and I think that is an important point to remember. Trading is really just a matter of entering when your chances are best for a strong trade.
Todays Emini Chart
I traded 2 contracts all day, which is ten dollars for every point on the Dow, and the market stayed fairly active. Notice where the Pivot is today, and how the market swings up to and around the pivot. The pivot was a very important line in today’s trading.
Pivot Point for ES contract: July 23, 2009
Stocks run into resistance (supply) because those traders that bought too late and saw the price go down now want to get out at break even so they sell. Stocks find support (demand) because those traders that missed the move up now have a second chance to get in so they buy.
Emini Trading Chart for 7-20-09
It was an interesting day of emini trading, I had one big loser, and one small loser and 3 nice trades. I chickened out on one trade as the market started to move against my position, I just felt uncomfortable riding the trade so I bailed.
Guest Blogger: Technical Tips from Dan Gramza
Well today we’re going to be talking about selling rallies. Now what
does it mean when people say, “sell the rally” when you want to
get into a trade? Or they sell a pull back? Or you hear things like,
“The Trend Is Your Friend?”
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