S/R Emini Journal
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Good Morning Everyone,
Meant to do this over the weekend, but got involved with house stuff.
I've bought and sold stocks most of my life, initially for longer term investments, when I was in my early 20's. When I started you would either have to call your broker for prices or read them the next day in the paper. Due to my work I could never really get into it for quick in and out since I was constantly traveling on business, both in and out of the U.S.
I've been trading, with regularity, for about the last 20 years, starting about when the first portable quote machines came into the market. I had one on my desk in my office.
My worst trades are too numberous to count. Learning, in this business, can be very costly and believe me I've really paid for my education.
My best trade ever, was in Oct, 1987 when the market crashed. Two days before the crash I bought OEX puts. The next day the market droped a few hundred pts. I was very tempted to sell, but, don't ask me why I held and the next day it dropped, if I remember correctly another 500 pts. At that time that was a big drop. Keep in mind the Dow started that week somewhere around 2500. Needless to say I got out, ran like hell and didn't look back. I made enough on that trade that if I wanted to I could have stopped working for awhile and lived off of that money very nicely.
A few years ago I took Traders Int. seminar on the emini futures. Liked the concept, but found I was getting chopped up with the 1 min. trades. I got away from futures and worked on refining my method and then got back into emini's again.
Closed my business about 2 1/2 yrs ago and began trading full time. I don't think I'll ever go back into other work again. I enjoy this too much and besides it's more profitable, without the agravation of dealing with people and employees.
Alex
Meant to do this over the weekend, but got involved with house stuff.
I've bought and sold stocks most of my life, initially for longer term investments, when I was in my early 20's. When I started you would either have to call your broker for prices or read them the next day in the paper. Due to my work I could never really get into it for quick in and out since I was constantly traveling on business, both in and out of the U.S.
I've been trading, with regularity, for about the last 20 years, starting about when the first portable quote machines came into the market. I had one on my desk in my office.
My worst trades are too numberous to count. Learning, in this business, can be very costly and believe me I've really paid for my education.
My best trade ever, was in Oct, 1987 when the market crashed. Two days before the crash I bought OEX puts. The next day the market droped a few hundred pts. I was very tempted to sell, but, don't ask me why I held and the next day it dropped, if I remember correctly another 500 pts. At that time that was a big drop. Keep in mind the Dow started that week somewhere around 2500. Needless to say I got out, ran like hell and didn't look back. I made enough on that trade that if I wanted to I could have stopped working for awhile and lived off of that money very nicely.
A few years ago I took Traders Int. seminar on the emini futures. Liked the concept, but found I was getting chopped up with the 1 min. trades. I got away from futures and worked on refining my method and then got back into emini's again.
Closed my business about 2 1/2 yrs ago and began trading full time. I don't think I'll ever go back into other work again. I enjoy this too much and besides it's more profitable, without the agravation of dealing with people and employees.
Alex
I had been in the Precious Gemstone business most of my life. Importing and selling to the jewelry industry. Kept me traveling alot. After years of living in airports and hotels, you get burned out. Although business was good, it was time to call it quits.
As far as trading. I use 3 indicators for confirmations. Stochs, MACD, & CCI and I use Moving Averages for S/R. Most of the time I use the 5min. TF for trading and keep an eye on the longer TF's for longer trends. With all of that said, chart formations (Candlestick charts) are my primary trading tools. I like trading flags & pennants as well as doji's for reversals.
Alex
mondays blow.
MDT
MDT
I've got a YM long trade with a tight leash. Since the ES hasn't really broken out of the opening 15 minute range my hopes are not high for this trade.
Yeah. I should have just grabbed the clubs this morning and teed it up. Got a dentist appointment Tuesday to keep me away.
Looks like it'll be up to Wednesday-Friday to make some $$$.
MDT
Stopped out. Okay. I get the hint. Done for the day. Still got time to hit the driving range.
Good luck to you guys today!
MDT
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