Day Trade Emini S&P 500 NASDAQ 100

5 min Emini Nasdaq 100

15 min Emini Nasdaq 100

Hi,

Remember what I said yesterday about ranging markets and that the return is not worth the risk taken? I had suspected that this condition will continue for a couple of days.. Don't ask me why the market is like that. I can't control the market, I simply ride the trend when there is a trend and stay out of trouble when there's no trend. With Iran continuing to enrich uranium and a slew of economic data coming out, we should expect the market to move like crazy... Sadly,,,,,, that's not the case.. and as traders, it's the greatest sin to con yourself into believing there's a trend when there's no trend at all... Learning when not to trade is just as important as learning how to enter and exit...

Posted by Michael Taylor at 5:26 PM | Permalink | Comments (0) | TrackBacks (0)

5 minutes Emini Nasdaq 100

Today is a ranging day. I have screen captured the whole day to let you see what I mean by a sluggish day..... Notice that there is no obvious trend ( although there is slight upward bias) and the pullbacks are just as vigorous as the upward movement. It is very easy to get whipsawed out in such a market environment. I have to admit that I was only LUCKY to make $270... I'd stay out of the market. The profits are not worth the risk...

Here's how my trade goes... Price gapped up at the opening bell and I waited for it to close the gap. There was a nice doji candlestick and rebound from the moving averages. Stochastic also rebounded from the oversold region...I didn't hesistate to long 1 contract at 1575.5, there was a slight pause at 1579 and I longed another 2 contracts. I expected momentum to continue to at least 1585 and my profit target was at 1590... At 10:40, price did hit 1585, but it immediately fell with shadows on the candlesticks. I didn't like the look of it. Finally at 10:50, there was a red candlestick and the whole setup seems weak and I exited at 1582. Still had a profit of $270 . But with hindsight, I would rather not enter the market today... the return is not worth the risk taken.

Posted by Michael Taylor at 5:17 PM | Permalink | Comments (0) | TrackBacks (0)

5 minutes Emini Nasdaq 100

Hi,

I took the morning off, guess why? 'Cos the FED is going to have an annoucement at 14:00. The FOMC minutes. This is a definite market mover and it pays to stay out of the market until the announcement. At 14:00, the minutes suggested that there is still inflation risk and the FED might continue with interest rates hike. This produced a knee-jerk reaction for the Emini Nasdaq as it shot up. I simply have to follow what the market is telling me. GO LONG. I longed 1 contract at 1565 and another 2 at 1569 when it broke out of a consolidation area. My profit target was at 1578, a resistance level established yesterday. At 15:30, I was out with $520 profits. A smooth sailing trade.

Posted by Michael Taylor at 5:13 PM | Permalink | Comments (0) | TrackBacks (0)

5 minute Emini Nasdaq 100

Hi,

How's it is going lately? Market sentiments are centered around crude oil prices and with the fall in crude oil, Nasdaq 100 emini surges up in an uptrend. Such nice patterns are rare these days. I hope you have captured at least part of the trend.

Price was already bouncing off the moving averages and stochastics came off from the oversold region ( as shown in figure above). Nasdaq 100 started off pretty nice with all the necessary ingredients for an upward trend. I longed 1 contract at 1563 and another 2 contracts at 1565 where there is a slight pullback. My profit target was at 1571.5 which is the high established by the previous day. ( last Friday). My stop loss was tight at 1559. Bascially I didn't want to risk much money and if price did fall to 1559, it would have seriously breach the moving averages and it was not too late to get out.

Price momentum was not good around 10:00 am and I was starting to doubt my trade, although I was not losing any money... I decided to let it swim and at 10:25, my profit target was hit with $420 profits. In fact it went beyong 1571.5. But I couldn't have predicted that, so I was satisfied with my profits

Posted by Michael Taylor at 1:06 PM | Permalink | Comments (0) | TrackBacks (0)

5 mins chart

Hi, how's it going lately? I know the market can be difficult these few days as there is no obvious trend. However, if you are patient and wait for the appropiate signal before entering. You can still make money. Today, NQ 100 emini opened with upward momentum, but that momentum is short lived and it started to came down at 10:00 am. This simply suggests that there is more downward bias than upward momemtum and I was more inclined to short than go long.

At 10:30, price rebounded from the moving averages and I shorted 1 contract at 1567.75, at 1560, there was a slight pullback due to a support line and I was about to close the trade, but price showed weakness again and started downwards. I shorted another 2 contracts at 1560.5. Price then went down further and shot beyond 1555, I was about to close it when it went further and I decided to let it run. But, sadly,,, it rebounded with a white candlestick and I exited at 1555. The result is $475 in profits.

Posted by Michael Taylor at 4:29 PM | Permalink | Comments (0) | TrackBacks (0)

5 Minutes Emini Nasdaq 100 CandleStick Chart.

The markets have been extremely difficult recently and I have warned traders to be extra careful when trading in such an environment. There was strong upward movement at the opening bell, but I was sure whether this was going to continue. I decided to wait for a more decisive signal. The signal came at 13:15 when price moved down in a big red candlestick after piercing all my moving averages. I immediately shorted 1 contract at 1570 and another 2 at 1568 at the slight pullback. My profit target is set at 1562, the support established by previous day's low. At 13:40. my profit target was hit and I am out with $400. Not bad for half an hour's worth of trading. But remember you need to be patient and wait for the right timing, or else, you might be making impulsive money losing trades in this market environment.

Posted by Michael Taylor at 5:08 PM | Permalink | Comments (0) | TrackBacks (0)

5 min Emini Nasdaq 100 Candlestick Chart

The answer is simple. We make money by not losing money. Simply stay out of the market! Look at the chart above, Emini is moving in a 12 point range less than half of what it usually moves on a reasonable day. Do you think you will be able to capture any trend in such a market? Even if you manage to capture one leg or two of the trend, you run the risk of being whipsawed out easily and the market bounces up and down. It is wiser to go to starbucks have a cup of latte and read newspapers.

Posted by Michael Taylor at 8:09 PM | Permalink | Comments (0) | TrackBacks (0)

5 minute Emini Nasdaq 100 Candlestick Chart

From Briefing.com:
The biggest news item this morning is that July retail sales rose 1.4%. It was a strong gain that followed a revised decline of 0.4% in June. And the increase wasn't due to higher gasoline prices. Excluding gasoline, total sales were up 1.3%. Excluding autos, the overall gain was 1.0%.

Retail sales had been near flat in both May and June, and there is no doubt that consumer spending growth is moderating. The numbers today, however, show that consumer spending is not crashing. The data are consistent with the Fed's goal of a soft landing and current forecasts of a 2 1/2% to 3% real GDP growth rate for the third quarter. There is nothing yet the suggests a recession.

How does the fundamental sounds? It sounds like market is not crashing.. blah blah blah.. Does that mean that we go long? DEFINITELY NOT! If you look at the chart above, you will notice that price is still has a downward bias. While I will not call this a 100% downward trend, it is definitely not a market where I will go long. In fact, market opened with a 3 point gap down. Movement after that was erractic and I just had to be patient.. My chance came at 11:15 am when price bounce off the moving averages and I knew the structure was weak. Firstly, the gap was already closed, and there was no strong upward momentum to carry price beyong the opening price. Secondly, the bollinger band and moving averages are all slanting downwards suggesting a downward bias. Thirdly, of course, as mentioned, price bounced off the moving averages. I shorted 1 contract at 1496.75 and another 2 contracts at 1493.5. There was a slight pullback and I shorted another 1 contract at 1492.5. My profit target was at 1486, which is the low established by the previous day. Furthermore, 1486 is just around 10 points away from the high of the day, not an unreasonable movement. At 13:25 pm my profit target was hit with $645 in profit. Notice that price immediately rebounded upon hitting the support line of 1486.

Posted by Michael Taylor at 4:25 PM | Permalink | Comments (0) | TrackBacks (0)

5 minutes Emini Nasdaq 100

15 minutes Emini Nasdaq 100

Dear Traders,

Knowing the economic calendar is very important as certain economic events can hugely affect your bottom line. There is an impending FOMC policy statement tomorrow and the market is quiet ahead of this announcement. If you look at the 15 minutes chart, you will realize how narrow the range of price movement is compared to the previous days. For beginners, I suggest you stay out of the market. For more experienced traders, remember to tread carefully and try not to over trade in such market conditions. I had too be extremely patient in this market condition, basically I just waited throughout the morning without a single trade. Finally my chance came after lunch at around 13:35, when price is set up for a rebounce from the moving averages. I shorted 1 contract at 1507.75 and when it broke 1505, I shorted another 2 contracts at 1504. My profit target was at 1498, slightly above the low established yesterday. Market is not in good shape and I don't want to be too greedy in my profit taking. At 12:30, 1 hour later, my profit target was hit with $435 in profit. I am satisfied with this kind of profit in this difficult market condition.

Posted by Michael Taylor at 5:38 PM | Permalink | Comments (0) | TrackBacks (0)

From Briefing.com:
July nonfarm payrolls rose 113,000. This was a bit less than the expected 125,000 to 150,000 increase. The initial reaction in the stock futures to the release was bullish. That is a valid response. The payroll numbers reflect moderate economic growth. The data decrease the likelihood of a Fed rate hike

5 minutes Emini Nasdaq 100 candlestick Chart

Nonfarm payroll was released at 8:30, 1 hour before the opening bell and it is not unusual for the Emini Nasdaq 100 to react immediately to the news release. Price gappped up on the opening bell and even went up for around 15 minutes before showing sign of weakness. In my experience, such gaps due to the release of nonfarm payrolls are usually closed. Now, this is not a definite rule, but if you look at past records you will know that there is a high probability that the gap will be closed.

Price action from 9:50 onwards was confusing at best, there were several attempts to close the gap but price rebounded immediately. I got whipsawed out of my position and loss $57.5 ( not shown in figure). I decided to wait patiently for a more accurate sign of gap closure. My chance came at 11:50 when price broke out of the triangle. I shorted 1 contract immediately at 1525 and when it crossed over my moving averages, I shorted another 2 contracts at 1517.5. Momentum was good and I was confident that price will continue the plunge. My profit target was at 1510 which is the support established yesterday. At 12:30, my profit target was hit and I am out with $600 profits. Patience counts!

Posted by Michael Taylor at 5:11 PM | Permalink | Comments (0) | TrackBacks (0)

5 Minutes Emini Nasdaq 100 Candlestick chart

Hi,

At around 13:00, price started to break through the high established by the morning session, I longed 1 contract at 1510 without hesistation. Breaking a new high usually means good momentum and also notice that bollinger bands are expanding with the moving averages slanted upwards in a positive trend. There was a slight pause in price movement at 1515 and I longed another 2 contracts, my profit target was set at 1523, which is a resistance level established previously. At 13:50, my profit target was hit and I am out with $580 profits. Price went up a few points higher after that, but we can tell that the momentum is lost and price structure is weak.

Posted by Michael Taylor at 5:31 PM | Permalink | Comments (0) | TrackBacks (0)

5 minutes Emini Nasdaq 100 Candlestick Chart

Hi,

How's it going lately? The market is abit difficult for beginners with no apparent trend these few days. However, if you read the technical signals right, you will still be able to make money. Today, Nasdaq emini gapped down at 1505.75, my immediate thought was - there is a high probability that price will cut the 1500 level. I was right, at 10:00, price shot pass 1500 and I was well prepared for it. I managed to shot 1 contract at 1499.75 and later when it pulled back, I shot another 2 contracts at 1497.75, my stop loss was at 1501, pretty tight. My profit target was at 1490, the low established a few days ago. The was a slight pullback before price manged to reach 1490. But i was not worried at all, instead, it was a healthy pullback, price needs some correction before moving on. At 10:55, my profit target was hit with $505 in profits.

Posted by Michael Taylor at 12:52 PM | Permalink | Comments (0) | TrackBacks (0)