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Active trading (or Day Trading) is not a game, it has a very high level of risk. It is possible to lose all of the funds that you invest in your trades. It is not recommended for inexperienced traders or for persons who do not have sufficient resources and time to devote to their trading activities. Active trading is a serious commitment that should not be undertaken unless you are able to handle high risk and high stress well, and are willing to consistently adhere to objective and disciplined trading strategies and approaches.
WeTheTrader is a resource for traders to share ideas about investing and trading the markets with Focus on the (ES) E-Mini S&P 500 Futures.
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Hasn't been much of an up-tick all day. Largest reversal has been 4 points on the ES. Still, I plan to scale in with 1/3 position soon
ReplyDeleteSteady down-tick all day. With the low volume, nobody is nervous so you are not seeing any panic-selling. As a result, you just get the slow dribble down all day... Holiday in UK may be contributing to lower volume today...
ReplyDeleteQuick break below 1050. This action seems to be algo-controlled. Not getting long yet. I'll either wait till we get lower, wait for a panic-sell or wait till we up-tick greater than 4 points...
ReplyDeleteOK, took a long, at 1050.25. Will not defend below the low however. I took it because I saw a brief shift in the order flow. This is an aggressive entry, but thats exactly why I won't defend it
ReplyDeleteAnd Out
ReplyDeleteI would have been much more tempted to go long today, but the market action dictated otherwise. One of the slowest dribble-down days I have seen. No reason to fight the trend today. S&P couldn't trade above the 20 MA on the 10 minute chart. Seeing that helps you confirm that market remains in the down-trend...
ReplyDeleteI am still looking to get long. We are more than 20 points off the highs from early this morning. I will need the market to show me some good entry signs before I do initiate my long. I will of course post when I do take it, if I do take it.
ReplyDeleteThis close is very negative, if I do go long at this point, I will be careful... have to re-evaluate market...
ReplyDelete