Emini Day Trading Diary

5 min Emini Nasdaq 100

Hi,

How is it going lately? Obviously market is at edge of a cliff, extremely volatile and we can't really tell where it is heading for the near term...

But just like I have warned, we finally got to the turning point... Price broke the support line at 1697 and I shorted 1 contract at 1698 and another 2 more contracts at 1686...

You might be asking,,, but we do not have a signal from stochastics or short-term MACD.. What counts in this trade is the price action and the breaking of the support line that are the major factors leading to me shorting it. Profits of $780.

Posted by Michael Taylor at 5:28 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately? Price gapped up today, there after it remained bounded in the narrow ranges of my Bollinger bands... Do we trade this? Or should we pass this?

The answer is obvious... Also, if you look at short-term MACD, there are no signals... moving averages are also flat...

It is important to be patient during such times...

Posted by Michael Taylor at 5:30 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately? moving averages are still flat, but we are seeing some changes.. Market surged up in the opening bell... but it lost steam and start on a free fall..

I entered 1 contract at 1771 when stochastics started to cut back from the over bought region.. Short-term MACD also cut the signal line shortly there after... I shorted another 2 contracts at 1751 and only exited at 1745 when stochastics cut back up...

Profits of $760..

Posted by Michael Taylor at 5:50 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately?

Market gapped up today only to cover the gap vigorously... We can tell that market sentiments is unstable...
At least the coverage of the gap tells us that the bears think that market is over exuberant with all the positive results..

Are we really recovering? Is the economy really getting better? I don't know... at least I know that since the gapped covered...
I am looking for another chance to go short... I got my chance when price corrected to the moving averages and bounced down coupled with a down turn in stochastics... I shorted 1 contract at 1759 and exited only when stochastics cut back up from the oversold region.. at 1749
profits of $200.

Posted by Michael Taylor at 5:50 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

Market is slowing down.... I would really advice you to take a step back and wait for the action to pan out before making any impulsive trade...

Price surged up in the morning only to retrace back during the afternoon session...

There is no way we could have traded this surge... it was too sudden and there were no signals from stochastics or short-term MACD... furthermore, moving averages were almost flat... I decided to stay out of the market.

Posted by Michael Taylor at 5:55 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately? I know we are in difficult times.. prices are volatile... bouncing up and down from the moving averages...

1) moving averages are almost flat... I hardly see any slope..
2) bollinger bands are narrow... price is nicely contained within the bands...

Ask yourself if you want to place high probability trades or risk money randomly...

Posted by Michael Taylor at 5:56 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100

Hi,

How is it going lately? Price gapped up today but it did not close the gap ultimately...
There is strong uptrend momentum and I was waiting for a pullback to the moving averages in order to enter...

My chance came when stochastics started to cut up from the oversold region... I entered 1 contract at 1693
Notice that short-term MACD also cut it's signal line shortly... I maintained my position towards the closing bell where I exited at 1701 with profits of $160..

Posted by Michael Taylor at 5:50 PM | Permalink | Comments (0) | TrackBacks (0)