Newbie Trader's Lounge

The market was going down but the long trade (first) came too prematurely. The second was a short but it was the end of the down move already. I lacked concentration today. At least I didn’t let it drag on to further losses.

Took another 5 trades to get the objectives. 2 were scratched (breakeven).

5 trades were needed to meet the objective today.

Two long trades today, 1 apart from another. It was the 2nd trade that went with the early rise up after the news release. The 1st came after the first reaction up.

Two quick trades today to the downside as the market since yesterday has been negative. Both shorts as trend was clearly down.

trade 1: (watch video @ 4 min.)
trade 2: (watch video @ 4 min.)

Today took a little more trades than expected but in the end, the trend finally kicked in long enough to reach daily goal.

Trade 1: (watch video @ 4 min.)
Trades 2 & 3 (watch video @ 2 min.)
Trades 4 & 5 (watch video @ 2 min.)

Today I missed the resistance level that was right in front of my face and let the profit turned into a negative. In the end, the short turn the day into black again. There was no time left to continue trading today.

4 trades: +.5 pts. (watch video @ 13 min.)

Today was fairly straight forward: a gap and a gap fill trade. 1 trade was all to meet the daily goal.

1 trade: +2.3 points. (watch video @ 8 min.)

Took 4 trades today but the market was very erratic due to the Options expiration so there was virtually no trend, no sense of direction where the market goes or stops. I gave up after 2 point loss.

4 trades: -2 points (no video due to recording file was corrupt).

1 trade was all it took. The first pullback from the downtrend and entry on the end of the pullback was sufficient to take 2 points.

1 trade: 2.0 points (watch video @ 2 min.)

I only had 1 trade today since I had to run early. The news from 830 AM pushed the volume into a steady short-term uptrend up until the 10AM report.

1 trade: +1.8 point. (watch video @ 2 min.)

A tough day. The market was very erratic, whipping back and forth. There wasn’t enough juice even to scalp. But it took 12 trades just to get one measly point.

Trades 8-12: (watch video @ 5 min.)

Trades 1, 2, and 3 for +2.0 points (watch video) @ 1.5 min.

Each day, objective is to get 2 points from Russell 2000 e-mini futures.

Four trades for +2.4 points.

Trades 1 and 2
(watch video) – @ 2 min.

Trades 3 and 4 (watch video) -@ 5 mins.

Head-n-Shoulders pattern played out nicely, beginning with a gap down below the neckline. From there, it reached target as planned. Couldn’t go any better.

Prices touching the neckline here with a gap down. Neckline will determine the overall market condition. Watching carefully for more downside, then a pullback before taking a short

Crucial moment here, where the top may be near or just a consolidation for more higher moves. But this Head and Shoulders is shaping quite nicely. Watching to see if the failure at this support here. If support breaks, then HnS may be real. Until then, wait and see.

EMD at resistance level now, at the moment, still no sign of a breakout long until it’s confirmed. Will wait for the resistance to become support before going long. In the meantime, a short is still a higher probability. If it fails and falls back below resistance, will short.

No plans have changed since last week. Still in range and will not trade breakouts, only buy support and sell resistance.

OK. Back from long summer holiday. Back to work.

Plines have been broken to the upside and low failure has been formed. Now it’s become the support area after prices have used it for another support, possibly creating a small double-bottom. Until this last high is broken, sell resistance and buy support. DB not in play just yet.