Tuesday, April 19, 2011

Daily View

I finally got around to posting some charts.
Tried a couple times with my old format but the ads on the right kept cutting off the side of my pics.
 Seems to be working fine now.

But ok these are the 3 main daily charts I'm looking at. The SP 500, EUR/USD, and light sweet crude
All 3 have dropped a decent bit the past week or so but the SP 500 is the only one that's broken out of the trendlines i have. The Eur/usd and Oil still both appear to be safely in an uptrend...for now anyway.


The SP 500 made a double top at a pretty major resistance line I had and there's a pretty good chance that was the high for the year. Hardly ever see triple tops tho so if it does make it back up there, I'd expect it to blow on past that area.
Always unpredictable tho. Several weeks ago I was positive we were going to stay between those green downtrend lines for a bit but we broke right out of them. I'm still eying a move down to 1220ish. If it does make it that far down, that might be a good place to buy. 


No position now but a long around 1.40 to 1.41 may be a good idea. I'll see what happens the next couple days.


And oil should keep making that move up thru the summer unless some major news comes out

Thursday, March 31, 2011

1st Post: Slow Night

I guess I'll give a little introduction.
I've been trading since March of 2009 so just about 2 years. The talk among long term traders is that it takes a good 3 to 5 years to get consistently profitable and everyone hopes they can be the exception to that rule but few are.
I'm not one of those exceptions haha. Luckily I didn't start out with a large amount of trading capital in the beginning. I've blown thru several accounts between $250 and $1000 but I've actually made more than I've lost since I last reloaded my account in November.
Taking baby steps is the key. You have to learn to be as happy about the breakeven day as you are about the +$200 day .

And as the title suggested it has been a slow night for me on the trading front.
I mostly trade the Eur/usd currency but I didn't see a clear setup.
Still in an uptrend so I'm holding a small longer term position but no clear direction for tonight/tomorrow.

I was trying to get in an oil position but that ran before I could get in around 104.65ish where I had my order set and I didn't feel like chasing.
105.50ish looks like a good target for tomorrow.

I'm working on some charts I'll either post in a bit or tomorrow
 


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