Day Trade Emini S&P 500 NASDAQ 100

5 min Emini Nasdaq

Hi,

Did you try to trade before 14:15? which is before the FED makes the all important announcement about interest rates? I hope not... the market was quiet.. bascially waiting for the big move to come...

However, the big move never did come.. When the Fed announced that they are going to keep rates the same, the market reacted by a small rally.. I went long at 1964.. However, 10 minutes later, I was out at 1962.. There simply isn't enough momentum to carry the trade forward and I couldn't tell the market direction.. This was a confused market... I did the right thing by exit fast and limiting my losses to $40.

Posted by Michael Taylor at 5:46 PM | Permalink | Comments (0) | TrackBacks (0)

Posted by Michael Taylor at 11:26 AM | Permalink | Comments (0) | TrackBacks (0)

5 Minutes Candlestick Chart

Hi,

Consumer confidence will be announced later at 10:00am. This is probably the reason for the uneasy and slow movement in the market. Normally I don't enter the market in the first 15 minutes of the opening bell. Today is different. Notice that price has hit the moving averages and there is a slight rebound, furthermore, stochastics and MACD is moving up from oversold regions. I decided to take a risk and aim for a 7 pt trade ( from 1697 to 1704). However, at the same time, do take note that the mid-term MACD is pending on crossing the zero line. This does not bode well for the trade. One of the advantages of using multiple MACDs is that it allows you to detect trends in different time frames. In this case, our mid-term MACD is in conflict with our short-term MACD. This is the main caveat of the trade. Nevertheless, I was decided to enter the trade and cut loss quickly if things go against me. I placed my cut loss at 1692.

After entering at a slight rebound at 1697, the market moved erratically and unpredictable. I was feeling uneasy when it went down all the way to 1694. This simply means that the market is still not ready to go up. I decided to cut loss and was lucky to get out at 1696.5.

Posted by Michael Taylor at 10:03 AM | Permalink | Comments (0) | TrackBacks (0)

5 Minute Candlestick Chart

Hi,
The market opened today with a 6 point gap down. It hit my longest Moving average ( blue) and bounce up slightly, stochastics and MACD were also showing a slight upturn. I decided to enter 1 contract to test the market. However, I am not really confident of this trade, but I decided to make a bet anyway, since the my risk is minimal as I placed my stop loss at 1681.5. If you look at the 15 minutes chart, Nasdaq 100 is not really trending upwards, the market is almost flat. This is the main reason why I am abit uneasy about this trade.

Well, price moved slowly and the market was ranging, my hunch proved to be right and I shifted my stop loss up to 1684 and cut loss at $30. Well, you have to be able to roughly feel the market, feel how it moves and observe the price action.

15 Minutes Candlestick Chart

Posted by Michael Taylor at 10:38 AM | Permalink | Comments (0) | TrackBacks (0)

E-min NASDAQ 100 opened and started to move down towards the Moving averages, normally we would expect a rebound when price hits the moving averages since we are still in an uptrend environment, albeit a gentle one. Indeed price did bounce up as shown in the circle ( refer to figure). This was my entry point. The trade lasted for around half an hour, with my maximum paper profit being $30 and maximum paper loss of $40. At 10:21, I decided that price is not going anyway judging from the movements of the 5 minute candlestick charts. It is most probably going to be a ranging market today and I exited my position with a loss of $20.

Posted by Michael Taylor at 10:36 AM | Permalink | Comments (0) | TrackBacks (0)