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Dear Trader,
I will be going away for holiday to Japan for a week.. No, I won't be day trading in Japan. This is a form of rewarding myself for all the hardwork that I have done all year round. I am going to take my mind completely off the market and relax. Meanwhile if you have any questions, pls email me at michaeltaylor@daytradeemini.com. I will try to read my emails everyday.
Good Trading,
Michael Taylor
http://www.daytradeemini.com
5 Minutes Nasdaq 100 Emini Candlestick Chart
Hi,
Today is a big day. Price really moved. How can I be so sure that it is really moving up? One very clear signal is that MACD in all 3 time frames moved in unison to cross the zero line. Nothing can be more powerful than that. I longed 1 contract at 1578 and another 2 at 1584 with my profit target at 1600.. Price action began to weaken before it hit 1600 and I took profits at 1596.5. That is still a whopping $1370 for me in less than 3 hours of work.
5 Minutes Emini Nasdaq 100 Candle Stick Chart
Dear Trader,
The first half of today's market is tough. We couldn't see where the market is going or what it is trying to do. Please refrain from implusive trading. The best thing to do in such a situation is to stay on the sidelines. Go walk your dog, go the the gym, go the pool, do anything but trade. Patience is key... I took the morning session off and came back around 12:30.. At this time, I could see a nice little triangle pattern starting to form.. All I have to do is to wait for price to break out of the triangle and go in the direction of the break out. At 12:50, price started to break down and I shorted 1 contract at 1578 and another 2 at 1575.5. My stop loss was at 1584 and my profit target at 1570 which is the support established by the previous low. At 13:10, the trade was closed with $380.. In less than 30 minutes, my trade was closed, minimum fuss.
5 Minutes NQ 100 CandleStick Chart
Dear Trader,
The market gap down by 6 points today with worse than expected Current account deficit. It closed the gap and plunged down again.. I could not tell which direction market was going and decided to stay on the sidelines. Price continued to plunge throughout the morning session and recovered in the afternoon session. At 3:30 pm, my wait finally paid off when price started to turn down from an overbought region. The technical oscillators ( stochastic and MACD ) also supported the move, I decided to short 1 contract at 1586, and another 2 at 1584. My stop loss was at 1589, pretty tight. My profit target was at 1577, a key support level. At 4:00 pm, my profit target was hit and I was out with $460 profits.
Nasdaq 100, 5 Minute Chart
Dear Trader,
The market has turned from a downtrending one to a ranging one. However, there are strategies that you can use to profit from consolidating markets. The techinicals are overwhelming strong in the trade I made today. First, there is a double bottom chart pattern when price touched the bottom band of the Bollinger Band. Secondly, a doji candlestick appeared which often signals a reversal. Thirdly, stochastic bounced sharply from the oversold region. The chart is literally yelling at me to go long. Do you get the signal?? I longed immediately at 1517 and another 2 contracts at 1519 with my profit target at 1528, which is the neckline of the double bottom pattern. My stop loss was placed at 1512, below the absolute low of the double bottom. Within 45minutes, price shot up and I am in with profits of $580.
NASDAQ 100 5 minute chart
Dear Trader,
The down trend is still pretty much in tact, I had a quick win today. At 9:45, price bounced off my moving averages and I immediately shorted 1 contract at 1534. The movement afterwards was erractic but when it bounced off my moving averages one more time, I shorted another 2 contracts at 1529.5. My stop loss is at 1536, pretty tight, I didn't want to loss too much. My profit target is at 1520 which is slightly above the previous low. at 10:45 am. my profit target was hit and I was out with $660 profits. $660 in 1 hour, no sweat!
Dear trader, the market has been in a downward trend for the past few days, I hope you are doing more shorting than you are long. If you followed my advice to short, you'd have captured some major moves and nice trends downwards. Today is such a day. Until 12:00am. I still couldn't tell where the market was going although I knew that it has a downward bias. At 12:00 am. NQ touched one of my moving averages and immediately reflected from it. This is a bearish signal and RSI was also at the overbought region, giving additional evidence to shorting. I shorted 1 contract at 1549 and another 2 at 1542 when price broke down again. My profit target was at 1525 which was around the low of the previous day. I intentionally set my profit target further as there was enough momentum to bring it down. At 3:30 pm, I was out with $1160.
5 minute CandleStick Chart
Dear Trader,
I have today is a bad day for trading. I was up at 9:30, watching the market, although I can detect a downward bias, the market wasn't really moving much. Price movement is sluggish and I came to a conclusion that there isn't going to be much market movement today. Well, if you really have to be in the market, it'd better be a short. The past few days were shorting days and the downward bias is still evident in today's price action. However, if you asked me, I'd say "Let's live to fight another day, the market is full of opportunities, we need not trade when we don't have to." Learning how to stay on the sidelines is as important as learning how to pull the trigger. As you can see from the chart above, the range for the whole day is a mere 17 points, although if you had shorted, you would have won, the risk is too great.... And even if you won, you can't be convinced that you won by skill and not by luck.
Dear Trader,
How's it going lately? Market is going for a roller coaster ride as various important news release comes into the market. The ECB announcement was at 7:45 EST and we can see the effect of this by the gap of Nasdaq 100 at the open at 9:30. There was a false move upwards in an attempt to cover the gap. In fact, it went beyond the gap to touch the moving averages and began sliding down again. The market is in a down turn now and it makes sense to short it. I shorted 1 contract at 1565 and another 2 at 1554, there was enough momentum and I placed my target quite far away at 1540. However, later as the price continued to fall, I shifted my profit target further to 1537. The trade was effortless. Within 2 hours, I won $1240.
Price has been below the moving averages for the close of yesterday and when it opened today, there was a slight pullback to the moving averages, this is exactly what I was waiting for. A pullback to short it. I shorted 1 contract at 1578 and another 2 at 1572.5 with my profit target at 1565. Stop loss was at 1583. The trade lasted for about an hour with $560 profits. This is one of the profitable trades that is simple and no stress.
There was ISM index announcemt at 10:00 am today but the reaction was mild and market was undecided where it wanted to go. I decided to stay out of the market..Remember patience is key... I took a break and came back only at 13:45. usually there is a big movement from 14:00 onwards.
My patience paid off. I saw price beginning to break down at 14:00. Call it magic? It's just the nature of the market. I shorted 1 contract at 1596.75 and another 2 at 1594. Price had been ranging for quite sometime already and I expected this to be a big move. I did not put a profit target..I exited the trade at 15:25 when price action got ugly. I exited at 1584.. A cool $655 in my pockets.