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