Emini Day Trading Diary

5 min Emini Nasdaq 100

Hi,

How is it going lately? We have stop the uptrend, but price in a stage of consolidation amongst mixed signals from the market.

Today's trade had some risks, but the risk/reward ratio was good enough for me to take the plunge. When stochastics turned up and
cut the signal line, price found support at the moving averages and rebounded, I longed 1 contract at 1416 with a stop loss pretty close at 1412.

I wasn't really prepared to lose too much on this trade. When price broke through the neck of the double bottom, I knew there was chance to go long again.

I longed 2 more contracts at 1422 and held my position all the way till the end with profits of $1080.

Posted by Michael Taylor at 5:36 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

Apparently the consumer confidence data were better than expected and price surged during the opening bell.
There were no signs from short-term MACD or stochastics from the opening, price just surged... there after, it was enclosed in a narrow
bollinger bands with short-bodied candlesticks...

The only traders who benefited from this surge are the insitutional investors who caused this surge in the first place...

Posted by Michael Taylor at 5:32 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

Market is at a turning point now... it was still on the normal uptrend, it would have to continue the previous trajectory in a straight line. This tells us the there is higher probablity that price would go down rather than up..
Conclusion would be that we are looking out for more shorting opportunities rather than long opportunities.

I had to wait till almost the closing bell to find an opportunity to short, moving averages are flat there are established resistance points during the earlier morning sessions, this gave me enough confidence to go short
when price turned down together with stochastics.. I shorted 1 contract at 1370 and exited at the end at 1358 with profits of $240.

Posted by Michael Taylor at 6:28 AM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately? The first thing you should notice is that bollinger bands are extremely narrow.

Next, candlesticks are extremely short-bodied... Although there are several signals from stochastics cutting the signal line,

you can see that price is mainly hovering around the green moving average, there is no real pullback...

No trade today.

Posted by Michael Taylor at 5:20 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately?
Market seems to at crossroads, price was on a wild ride up and down... Price remained above the moving averages while stochastics gives out
signals to long and short... Do you think this is a good idea to enter the market?

Definitely not, we would never want to force a trade... Bollinger bands are still narrow and price action is limited... No Trade today.

Posted by Michael Taylor at 5:42 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately? There is a nice uptrend today and price is climbing up slowly... But, there is no pullback by price to the moving averages...

Stochastics formed nice turning points, but this is not accompanied by real price action.. Hence it is wise not to force a trade.

NO TRADE TODAY.

Posted by Michael Taylor at 5:16 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

Market seems to be resilient and bounced up today. You can see that the green moving average is the support line for price as it moves up..

However, do you see a trading opportunity? MACD, stochastics are erratic and there isn't a good trading signal for us to enter with confidence.

NO TRADE TODAY.

Posted by Michael Taylor at 5:40 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately? Market is at a turning point. We can see that moving averages are flat and that Bollinger Bands are narrow.

You might say why don't we capture the upswing at the opening.

But look carefully, moving averages are flat, do you want to enter just because stochastics are pointing up? NO TRADE TODAY.

Posted by Michael Taylor at 2:51 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately? There is a slight upward trend today and I took the chance to go long when price came down and touch the moving averages.

This was coupled with V-shaped rebound of stochastics cutting the oversold line.. I longed 1 contract at 1359 and exited at 1367 with profits $160.

Posted by Michael Taylor at 11:39 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going today? Are we going through a correction? This is timely... as we know it is technically impossible for price to keep on rising in a straight line..

Price gapped down today and edged slowly down... You can see that candlesticks have short bodies and that it stayed witin a narrow band..

NO trade today.

Posted by Michael Taylor at 5:48 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Has market finally waken up to reality? China, Brazil is going up.. but that is not enough to help the U.S. get out of recession. Are the stress tests robust enough? Is this really the bottom as major business leaders have said?

We do not know, what we do know is that stocks cannot just keep flying up.. they have to correct at some point, this V shape correction if it were to continue, would constitute a highly unlikely technical pattern...

It is only natural that we expect some correction along the way. Price came down, but there are no signals that I can trade on.. No trade today.

Posted by Michael Taylor at 5:34 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately? With the stress test over, have banks really stabilized? We don't know yet,

market gapped down but immediately closed the gap with stochastics and short-term MACD cutting up the signal line.

It is better to be cautious here are we can see that the moving averages are still flat.. I longed 1 contract at 1378
and another 2 more contracts at 1389 when price closed the gap but did not rebound back down.. I stayed in my position
all the way until stochastics showed sign of cutting the signal line at 1397 with profits of $700.

Posted by Michael Taylor at 5:41 PM | Permalink | Comments (0) | TrackBacks (0)