Schaefer's Journal of Nikkei 225 Mini.

Gapped down about 300 points from yesterday's afterhours close. Gaps are part of the Mini, it usually follows US markets' momentum. It really messes up my charts though.

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Quote from Schaefer:

I follow the basic rules of price action, such as higher high, higher low, lower high, lower low, double top, bottom, triangles, patterns etc. with a lot of emphasis on volume.
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Hi Schaefer

Here is my morning session chart. I use channels and volume to make most decisions. The two trades I took are marked (+75, -10), I then monitored to the session close.

Good luck with the journal!
 

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Quote from PointOne:

Hi Schaefer

Here is my morning session chart. I use channels and volume to make most decisions. The two trades I took are marked (+75, -10), I then monitored to the session close.

Good luck with the journal!
More...


PointOne, thanks for sharing, and good trading to you.

Schaefer
 
Okay, I'm goint to have to call it the day here, as I've probably only slept about 3 hours since yesterday. I missed the fill on a good entry at 08:33pm, did one quick scalp, and done for the night. As you can see from the Range chart below, there were 3 excellent entry points with the trend.

I'm still proding this instrument at the moment. And I would increase my trades, and hold 'em longer as I start to feel comfortable with the Mini. Here's a quick market recap of the morning session.

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Update: Did not trade on 03-11-08.

Trading tonight, the last day for the contract. It will be June contract starting tomorrow. Gapped down about 275 points upon open, following US market's downward mometum.

So far two trades, one loss, one win, will post the snap shots during break.

Schaefer
 
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