Small loss

Made 165 or so in Nasdaq this morning, then lost over 190 in Russel.

+300..in a hurry..

Take a look at the pic and figure out the buy and sell.. in a bit of a hurry :)

+$200..gave some back to the market

I was over at my 'rents house for the week so I decided to activate my account for the while.. today being the first day I made my first trade after a long time and already made an old mistake. Honestly, it was good to take a break from the market 'cuz it can get really frustrating if you are losing money and can't find any way out. I wouldn't say I lost money everyday but everyday was or is another day and no two days are the same in the market so you need to always come with a fresh and open mind and forget the past even if you have lost a lot like my bruh over at HPT. I am no expert but he really needs to bring down his contract size.. many times when he has made money if you calculate how much net he comes out with.. it'll surprise you that given my commission rates he doesn't make much.

Anyways, today wasn't really a day to talk about 'cuz the market kept going up and down in a channel pattern and it was mostly sideways except one good move that I missed in the afternoon. However, I did catch on when the market was about to close I drew the Fibonacci and realized that the trend might still continue up and bought 1 contract with a $1.5 stop loss and when it broke the next fib level bought in another one.. alas it wasn't meant to make me money. The second contract ended up giving money back to the market. Should've been a bit more patient (hard to be patient when you trade after a long time). Anyway, I hope you all had a good time in the market 'cuz we all have a tendency to be happy when we see someone or something crash or go down the drain and that's what's happening in the market at the moment.

+= Back but Inactive =+

Ladies and Gentlemen,
I have managed to somehow return from a grand vacation. If money wasn't running out I would stretch it for months.. However, due to unstable Internet connection and a new place (Buffalo, NY).. I won't be able to trade for a while but will update the blog from time to time. At the moment, I am trying to get a reliable high speed Internet connection but it's taking forever will update pretty soon.
-ciao-

= Gone Till January =

So what did I decide to take with me on my vacation? You guessed it.. the biggest loss of my trading career. You can save the applause for later but I gotta show how the market can mess with your head even if you think your good.

How does -$450 sound? Sounds good if it ain't you. :)

I always say that there will be a tomorrow but this time there ain't no tomorrow.

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Going on a vacation for a month.. then busy moving my stuff and won't be able to get back to trading until I have a reliable Internet access at my new place and a good place to trade. Until then click on some AdSense ads if you like something there and I guess that's it.

- ciao -

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Finally the end of ranging days...

Today was quite difficult to trade to be honest with you. I had my last minute doubts until the very end and I was able to make 2 trades both for win, first wasn't big enough to be mentioned here but the last move was quite something. A lot of other futures trades were expecting another run down to make a new low but quite the opposite happened and I was able to take advantage of that. Unfortunately, I also called out the down move at 13:50 but just wasn't sure enough to get into it and missed it completely.. I don't like to chase the market if it's moving too fast without any entry indicators.

Also, tomorrow would be my last trading day for the year as I am leaving for a month long vacation on Friday and when I come back I will be moving to the US so I may not be able to get back to trading for a while ..probably until mid-January or so.

FOMC; Fed Days

Fed Days are days when the FOMC (Federal Open Market Committee) make announcements on interest rates. These FOMC days usually see a low range and low volume day up to 14:00 EST when the announcement is made and then the day changes into a volatile high volume afternoon. The FOMC change (or leave the same) the Fed Funds Rate.


This is what the E-Mini S&P500 Market did after the last FOMC rate change announcement on 31 October 2007 when the FOMC cut the rate by a quarter point from 4.75% to 4.5%.

Here is a list of charts from the last 3 years of all the fed days from MyPivots.

http://www.mypivots.com/articles/articles.aspx?artnum=11&page=2

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I don't plan to have any open positions before the Fed announcements and will probably join the move in the making if my indicators confirm a safe entry. I have known people who bought 5 minutes before the Fed announcement on the last meet and emptied their account in the next 10 minutes even when the Fed cut the rates. The market becomes very volatile so special attention needs to be paid on thee days and don't go off fixing yourself a lunch with just a trailing stop in place.

For beginners trading the FOMC day, including myself, below is a video made by PureTick.com on playing the Fed move safetly.

http://puretick.com/video/fed/

Here are the pivot points for tommorow used by price-trend which are the closest to real floor pivot points.

PP: 1513.5 R1: 1533.3 R2: 1526 S1: 1506.3 S2: 1593.8

Update: 9:22 AM Eastern

On September 18 after a 0.5% cut in the fed funds target, the S&P surged 43 points. On October 31 after a 0.25% cut in the fed funds target, the S&P gained 18 points. The market has rallied more in advance of the announcement this time compared to the two previous occasions, however, so a subsequent rally of similar proportions is a long shot. There is even a chance that some "sell the news" reaction occurs following the announcement.