Posts tagged ‘ES. YM. NQ’

Todays Emini Chart

By , 29 July, 2009, 1 Comment

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.

Read More →

Emini Contract and Index Futures

By , 28 July, 2009, No Comment

The indexes, then, are composites of groups of stocks and may be weighted by the capitalization of the stock in the composite, depending upon the index your are trading. A index futures contract is a derivative, not a direct investment. With all the talk of the horrors of derivative, many are shocked to learn the futures contracts are, in fact, a form of derivative.

Read More →

Emini Trading and the Commodity Channel Index

By , 20 July, 2009, No Comment

The indicator generally is used to in determining whether a commodity is overbought or oversold, which is indicated by reading above or below the 100 and -100 lines. The general thinking is that when the indicator is over the 100 line, for example, the price will correct to more normal levels between the 100 lines.

Read More →

Todays ES Emini Pivots

By , 14 July, 2009, No Comment
ESU9
For 07/14/2009
mbol R1 R2 Pivot S1 S2
ESU9 907.00 918.50 886.25 874.75 854.00

ES Emini Trading for July 13, 2009

By , 13 July, 2009, No Comment

ESjuly1309Charts courtesy of AMP Trading, get a free demo account and paper trade

Well, it wasn’t exactly one of those days you dream about, although it was profitable.  We had a nice move upward and the market treaded water for the rest of the day.  I highlighted the one try and exit for the day, and I am sorry to say that was the end of the action.  Sometimes trading can be very boring and tedious.  I might also add that the boring and tedious days are usually the most profitable, so I suppose I should not complain.

———————————————————————————————————

There are so many facets of trading to explore that I have taken on a sponsor that I have personally used for a number of years.  Most of trading experience as a professional was in the open outcry pits, so I am always anxious to learn new things.   The day you quit learning is the day you start your descent to mediocrity, so I highly recommend the folks at INO for rounding out your trading knowledge.  The scope and depth of the coverage they provide is absolutely first rate.  Give them a try and see what you think.  There is no risk.

Trading for 7-10-09

By , 11 July, 2009, No Comment
ESU9

ESU9

Charts courtesy of AMP Trading

The morning session traded along  nicely and I was able to start out with a nice couple of trades, and then had a great set up got stopped out before the market could start upward.  It happens.  I didn’t try to jump back in because it’s never a good idea to chase the market, so I had to eat some crow.  The afternoon seemed fairly range bound, and there were some decent set ups but none that were really compelling so I headed to the golf course  toward the end of the session.  It turned out to be a good decision.

I have taken to reading some other trading blogs lately and find myself perplexed by some of the advice offered.  I am generally aware when a big economic or political announcement is going to made public and avoid being in the market at those times.  Aside from that minor information, I really don’t pay too much attention to anything but the chart.

I THINK IT IS IMPORTANT TO TRADE THE CHART THAT IS BEFORE YOU RATHER THAN THE ECONOMIC NEWS.  After all, the charts are a reflection of the information being disseminated in the media.   I never listen to television financial news when I trade, or any other kind of information service.  I simply trade what is before me on the chart.  I think that this is an important idea to assimilate.  (Note:  I have been known to listen to the Chicago Cub games during the afternoon session and this can be a very depressing experience, though I do not really know if it effects my trading)

As a matter of fact, Friday was a day filled with announcement from the G8 and the US government, and I never gave any of this information any weight in my trading.  I trust the charts, and I trust my trading methodology.  I do not try to guess how a given announcement will influence the trading direction.  I exist in a sort of trading vacuum, I suppose, as I am unconcerned about the world and only concerned about the information that appears on the given chart I am trading.  Make sense?

An interesting day, to say the least

By , 8 June, 2009, No Comment
emini trading dow trading

emini trading dow trading

What a day we had, the market fell out of bed from the onset, as economists squabbled over what the “real” unemployment numbers should be. No matter how you look at it, they ain’t good, so to speak. And at the end of the day the financials staged what I would call a miracle rally and drove the Dow into positive territory. There any number of theories being floated as the the nature of this late rise in price, and they range from conspiratorial to fundamental. Heck, I’m just a scalper, I want to stay in the trend.

The late day rallyy was a hard one to stay in as it made no sense, so there was a constant compulsion to pull out with a large gain, but the thing just kept going up, and up, and up. One of the oddest last minute moves I’ve seen. Then again, these are odd times…so what should I expect?

Page 4 of 4«1234
Easy AdSense by Unreal