S&P 500 & other indexes - intraday. Plus chat

Hello campers, my one and only seshun this week, so hopefully it will be fruitful.

Seems to be a lot of talk about set-ups and edges, what about everything else? Successful trading relies on a whole framework, a logical process, from the planning of the day to the amount of trades that one puts into the market in any one session.

Everything must have a logical reason, otherwise, our brains can't cope and we start to malfunction.

It's not about what the market yields, it's about how one goes about obtaining it. At least, that's my humble view on the matter.
 
ES 09-12 (5 Min) 28_06_2012 1.jpg

ES 09-12 (5 Min) 28_06_2012 2.jpg


This is what i'm looking at, the usual parameters apply, 10:20.
 
There might be a big shock if The Supreme Court says Obama-care illegal

and another plus point for a 1 party state.
 
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You've got to love it when you fluff an exit. Long 1313.50, mouse click at 1314.25...............:rolleyes:
 
came within a tick of my take profit on that one, lol. If it stops me, it''ll be the 4th trade in a row that has showed me within a spit of my profit target only to stop me out.
lets wait and see.
 
Today's trade was quite late on, but turned out to be a beauty. Rejected the previous low and formed a nice hammer bar... RSI was oversold. And I just rode it on the way up as it took out short stops along the way. Actually managed to get another .25 of a point after the screenshot. So a 10.75 points winner, very happy with that.

And just for the record this is not demo trading, everyone keeps telling me to carry on with it... I haven't done it in years and even then it lasted about 2 weeks :LOL:
 

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Must resist the urge to fade that move... back to the football to keep temptation away :)

Lovely weather today wasn't it?
 
After football I came back and I just had to take the fade.. was so obvious I had to trade it.

I reckon this could go all the way back down to 1315 (edit to say 1321 area on this stupid cash product, need to update my watchlist). Need sleep so going to take half the position off and put stop to break even on the rest.. lets see where we are in the morning.
 

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Well that's not what I expected at all! Very happy to see I got stopped out at break even with no slippage. Guessing some nonsense news from the EU summit has caused this rally. Time to read the morning news.

Will be watching 1350s area to see what happens... previous highs on the daily chart around that level.
 
JT_MOT said:
Well that's not what I expected at all! Very happy to see I got stopped out at break even with no slippage. Guessing some nonsense news from the EU summit has caused this rally. Time to read the morning news.

Will be watching 1350s area to see what happens... previous highs on the daily chart around that level.
Click to expand...

One question. Did you think that was a good trade to take?
 
robster970 said:
One question. Did you think that was a good trade to take?
Click to expand...

Yes, I think it was ok. The first big spike didn't seem to based on any news and whenever price moves that far that fast there is always some pull back. Especially as it went into a previous support area. I wasn't trading in my usual style though, just look for a couple of points and was prepared to cut it as soon as it went against me.

In hindsight I should have just closed the whole thing when I was a couple of points on side. I don't usually ever put my top to break even, but it turned out to be a good move in the end.
 
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