Holding On

Didn't trade last night as I brought my family up to Johor Bahru for a day trip. Caught the recently released cartoon movie, "Megamind". Was a decently fun movie and the whole family got a kick watching it. We also did quite a fair bit of grocery shopping, moving from point to point, and as well as between two hypermarts. By the time I dropped my mom & auntie off, I hit home with the wife & kids

Consolidation

Markets took a breather last night, with some downside bias. Initial SHORTs were the order during the early part of the trading session. Was able to garner +2.75pts from 2 trades & I called it a night, preferring to catch the episode of Fringe on the telly.I had lost -1.50pts last Fri but with yesterday's gain, I am back to +192.50, from my original starting trading balance. It's been a ding-dong

Breakout...Divergence Negated.

The divergence I mentioned in yesterday's post was clearly negated when both the YM & ES did a chart breakout last night. Although LONGs were the trade setup for the night, I missed going LONG by 0.25pt and I decided to wait for the next opportunity.However, when the next one came along, I was given a fright (though with STOPs in place) when right after getting in, they sold it down pretty

Divergence between the YM & the ES

Was a so-so night for me as small pre-marlet losses took out some steam in my trades and at the start of the trading session, I was concentrating on re-couping them. I finally did, but not before getting frustrated with a couple of early trades that was postive by -1.50pts, only to turn negative and hitting my STOP by -0.25pts. Eventually, the night ended with just a +0.75pt gain. Rather decent

See - Saw Account Level

It's been a see-saw kind of week for me as I gave back what I had earned on Monday. Had a couple of Break Even trades but I also had two perfectly good trade setups that I took (with unrealised profit of at least 1.50pts) go against me as I moved my STOPs nearer to Break Even levels. They turned out even more profitable as PRICE went down after hitting me. Aaaargh!!I had mentioned yesterday that

Consolidating My Position

It was a night of careful considerations as after last Friday's session, I was definitely in no mood to lose more ground (in terms of my account - which I am still up by +US167). Even trading the pre-market session was a no-no. However, just at the market open, a LONG trade set-up presented itself and I told myself to take it, knowing fully that important data would be released at 10pm (

Nightmare

Last night's trading was a nightmare as I ended the session totally frustrated! Losses were really kept at a minimum at either -0.50 or-0.75pts but it was the way PRICE whipsawed around that killed my trades.At times, I was in the clear by +1.50pts, only to see PRICE heading back towards my entry point, and then hitting my STOP. And at other moments, either when a clear LONG or SHORT trade was

Uptrend Still Intact, Despite Daily Oscillations

Looking at my Intermediate Term Chart for the ES above, you can see that the Uptrend is still intact, albeit the daily gyrations(oscillations). A warning signal will start to appear, if PRICE takes out the 27th Oct low of 1167.75 in the coming trading sessions ahead.

Impatience Rears Its Ugly Head

A quick +2pt gain just at the market open quickly turned southwards when I decided to get back in, to get "more" for the night. It turned out to be the wrong decision as I quickly lost the 2pts in two quick succession trades.Instead of my usual calm & collected self, I was agitated that I had gained, and lost the 2pts so quickly. And before I knew it, I was literally shooting off the hip, with my

Getting There...

Another great trading session last night as I slowly but surely clawed back what I had gave back to the market last Friday and this Monday. A total of seven trades were executed, of which three of them were +2.50pts, +2.25pts & +2.50pts. On the flipside, the other four trades were losers of -0.75pts (3) and -0.25pt(1). That equates to a net gain of +4.75pts for the night.I'm pretty happy with my

Taking Back What's Mine...

Was trading rather cautiously last night as I did not want to continue giving back to the market, what I had chalked up last Thurs night. As it is, I have already given back about 6pts (including commissions) since that awesome night and no way was I gonna give back more. That somehow set the tone for the evening as I watched & watched for "perfect" trade set ups. I did miss a few decent good

Never Hold Onto Hope When Trading...

Last night's trading session proved to be a frustrating one. Just 20mins after the opening bell, I took a LONG (at 1189.75). Truth be done, I was rather hesitant in taking the LONG as it was just too closed to the news (housing sales) to be released at 10pm. But as the trade grew profitable by 1.75pts, I was quietly confident that the news, whether positive or negative, PRICE would just burst

Down to earth...no loud thud yet! LOL

Was brought down to earth on Friday (after Thurs night's outstanding session) when I lost 3pts on 4 trades executed. I guess it's good for me, as I don't want to get too carried away with the previous night's 11.5pts gain (from 2 trades), and then start giving it all back. Just have to make sure that it is 3 steps forward, and 1 step back from now on.

Uptrend Still Intact

Looking at last night's PRICE action, we established a Higher Low (HL) and it is clear that PRICE is still in an uptrend and now it has to challenge the last night's PRIME High of 1186.25. However, failure to do so would bring us back down to challenge last night's low of 1167.25 and if PRICE breaks this Support, it would then give us Leg 1 of Back Door Bull Break.

Happy Camper

I was ready to call it a night before the market actually started as I had gotten +4pts in the pre-market move. I thank God for the profit as I had actually left the house for a dinner appointment with an old friend and his wife. Even with my STOPs in place, I still felt that I had to ask my wife, who was at home, to keep a close watch of the trade.At about 7:30pm, I received a call from my wife

Ditto?

Last night's session looked identical to one of my trading sessions last week. Losing 2 pts in 2 trades in quick succession, I positioned myself to looked for the next trade to round off my night, and as well as to recoup the 2 pts lost. That next trade soon presented itself and again, I managed to lock in a net profit of 3.75pts.But before that happened, I was faced with a dilemma, where I

Review

It has been slightly over a week, since I placed my very first ES trade, after a 1 1/2 year sabbatical. Results have rather been mixed but I take comfort in the fact that after such a long lay off, the results are quite encouraging.On a net net position, I have only lost US$7.50 on my trading account, since that very first trade, on the 7th of Oct 2010 till now. Yes, I have been "paying"

Bedtime

Due to the time difference, trading the US markets can be quite tiring. As such, after returning from a 1 1/2 year break to start trading the ES, I have made it a point to stop trading by 1am, Singapore time.Yesterday was no exception. I had chalked up a few trades, and by half past midnight, I was net down by -0.75pts. I decided to take a last trade, as it was getting late, and I was getting

Taking Small Losses

The story was almost identical for last night, and the night before's trade summary.On Thursday night, I had taken small losses (with a -1.50pts during outside trading hours) throughout the trading session, amounting to about a total of -2.75pts. By then, I was pretty frustrated with what was going on, and decided to finish off the night with a good trade setup. The situation presented itself

Trading What I See

I missed a perfectly good LONG trade in pre-market yesterday. The set-up was perfect but as in trades past, I was never comfortable in taking pre-market positions, due to the low volume, and the possibility of manipulation.Just before I left the house at 2:50pm to run some errands, I had spotted a possible LONG at 1166.00. PRICE was rejecting a new low by giving me a Minor PPF and the longer term

Discipline & Patience in Trading

Discipline has always been a bugbear in my trading but I'm glad that with my recent return to the futures market, I have been able to keep a tight rein on it. Yesterday was no exception as I waited patiently for a trade to set-up.However, I chose to look for shorts, even when PRICE had clearly signalled a bottom when the ES hit a low of 1152.00, twenty minutes after the opening bell. I guess I

No Trades

Though the markets were still open, the Columbus Day Holiday "mood" clearly had an impact on the market volume. Price was pretty directionless and I decided to call it a day (night), just at about midnight. Let's see what lies ahead tonight...

I'm Back !

After being away from the Futures Market for the past 1 1/2 years, I finally marked my return on Thurs, 7th Oct. It wasn't something that I dived into immediately, but have actually been setting up and looking at my charts, for the past 2 mths. It was kinda strange when I placed my first ES trade but after closing out 4 trades for the night, it just felt good to be back.Unfortunately, the 4

Spain beats Holland 1-0. And a good start for me too...LOL

Last night, after dinner at Parkway Parade Shopping Mall, I decided to have some fun, by placing a small wager on the World Cup Finals match between Holland & Spain at the Singapore Pools outlet there. I told my wife that I expected both teams to be "equalised" by the end of normal time, and thus my reason for opting for a draw.I had planned to watch the match, but ended up "knocking out" on the

Making a comeback...

I have been away from trading for more than 1 1/2 years (due to my day job commitment) and I intend to make a serious comback in the 2nd half of 2010. Stay tuned...