Emini Trading Update – Wednesday 20 Jul 2011 (18:16)
No Demand day today – so we’ll see. I know Euro and Crude looking like they want to take off and Bonds topping out with End of Trends. No, I’m not going to think about it. Just focus on my setups and holding for the 4 points on the trend moves – which I failed to do on my first trade today. Dumb.
Link of the day …
Karl Denninger at Market-Ticker.org wrote a very elegant piece Monday. He’s a very smart man and gets very impassioned – this piece was almost out of character, it was so matter-of-fact. It draws parallels between what is happening now and how the Great Depression evolved. Check out: Karl Denninger goes all unemotional.
Quote of the day …
Warren H. does it again – “one shot, one kill” – on Tuesday
“Hey Barry, Thanks for the video updates. It’s very inspiring to see your talent and experience at work. I was on vacation last week. Yesterday I had no trades because I have been focused on trading bounces off S/R on the 4500 and did not see any I liked. My long bias after the gap up kept me from going short.
Today I waited until 11:35 CST and went long @ 1314 after the bounce off the PB line on the 4500 and break of resistance on the 1500. I was in too early and held for an uncomfortable 3 point retracement. I was tempted to get out break even when the market returned to my entry. The speed of that push up at 12:27 told me to wait for a little bit and that resulted in my target being hit 10 minutes later + 4pts.
Thanks for your instruction, I am REALLY enjoying trading this system.”
If you’re reading this article via email or RSS reader, then follow this link to view the Emini Trading video on the website. Good luck with your Emini trading.
