Did you trade Today? Dangerous market for Beginner Traders, My signals --> $400 profits.
5 min Emini Nasdaq 100
Hi,
Two trades are involved today.. FIrst at the opening bell, price gapped down by about 4 points and stochastics started to turn down, I immediately shorted 1 contract... However, by 9:30 there signs that price was turning up again and I exited immediately.. I lost $10 on this trade.. But I had to enter because my signals said so... Note that this trade is just highlighted in the figure above, the entries and exits are not shown...
The second trade is what we should concentrate on....
The whole afternoon was quite, I certainly hope you stayed on the sidelines... with Short-term MACD hovering near the zero line, you will get yourself killed by going in recklessly... Exercise the greatest trader virtue --> PATIENCE!
I had to wait all the way till 15:00 for a decent signal... Short-term MACD finally went up decently above zero-line, price hit the top band on Bollinger Bands and Stochastics started to downturn... PERFECT!.. This chance is worth our wait..
I shorted 1 contract at 1898 and another 2 contracts at 1896 when Short-term MACD crossed it's signal line.... after that, price just went down... I was tempted to get out when a white candle appeared when price hit the moving averages.. but my trade was still in the profit and I decided to hold my horses and stayed in the trade... price action looked weak anyway... I exited at 1890 with $400 profits...
Nett profits --> $390