ES Trading - 28 Apr 09

Dear fellow traders :

Shorted the ES based on the S&P500 10 min. stochastic trending down gradually. But I was stubborn not to close the trade when the S&P500 10 min. stochastic started trending up. Stopped out at 12 points loss.



I really need to train up my discipline not to enter any trade when the S&P500 10 min. stochastic signal was not clear. And I have to admit I wasn't focused. I was monitoring my options position and wasn't looking at the big green candles forming in the ES when I was SHORTING it. I could have reverse my trade or I could have stop out my trade. But nevertheless it was a great lesson not to multitask too much when I'm trading.



Regards,

Tony Chai

ES Trading - 23 Apr 2009

Dear fellow traders :



Another day where I have to recover earlier losses. Entered a long initially when I saw the S&P500 10 min. stochastic slowly trending up. But the ES red candles formed long & furious and from my experiences it's likely to go down deeper, since the pivot point support was also broken. Reversed the trade and recovered the earlier losses as ES plunged deeper.

I entered another trade later to short the ES since I felt the ES might plunge through the pivot point support again since it had done the "strength" to do it earlier. But I closed the trade a little too soon with a -1.50 points loss when I saw the ES holding on the pivot point support. I also felt uncomfortable shorting the ES when the S&P500 10 min. stochastic was trending upwards.

As you can see, the pivot point support was truly broken again, and I was already out of the position, urghh.


Regards,

Tony Chai

Sensational Susan Boyle

Dear friends,

I guess most of you have heard about her, enjoy.

http://www.youtube.com/watch?v=9lp0IWv8QZY

Don't give up on your dream.

Regards,

Tony Chai

ES Trading - 16 Apr 2009

Dear fellow traders :

Just recovered from a bad flu. I could hardly stand up straight for more than 5 mins. during the worst days of my flu. Now that I've recovered, I'm back to practice my ES trading.

Shorted the ES when the S&P500 10 min. stochastic was trending downwards. The position whip-sawed a while but once I saw ES touched the base of a probable double bottom & that I already had the 2.50 points profit ($125) in hand, I closed the ES trade.



Regards,

Tony Chai

ES Trading - 9 Apr 2009

Dear fellow e-minis traders :

Followed the S&P500 10 min. stochastic signal and shorted the ES. The stochastic kept trending down but the ES just won't plunge. Well, the ES was strong. The S&P500 was well supported above the R3 (!!!) pivot point during that time-frame & day. I decided to close the trade at zero gain (& loss) when I saw the 10 min. stochastic started turning up. You might have ask, why didn't I long the ES since it won't buckle when the stochastic was trending down. That was my answer. The S&P 500 10 min. stochastic was trending down; and I felt not to trade against that trend.




As frequently encountered, the ES did dip afterward for a while AFTER I've closed my ES trade.


Regards,

Tony Chai