Emini Trading Update – Wednesday 16 May 2012 (15:38)
OK, rushing to get this post out – and not sure I’ll hit the email window. So apologies if you get this update late.
Well another down day and APPL is now down 16% from the highs and we pressed into the 20’s on the Emini today – after testing back to 1,340 again.
I think we’ll get a bounce tomorrow. We got a small bounce this morning, but I think it will be more significant tomorrow. And then we have FB Friday …
In the video today I go through my trades and what I should have done. It was a good day but only 1 entry was “right” – that is, at a low risk test with Professional bar. That’s the pattern I need to be looking for – rinse and repeat.
I kid myself that my “system” is highly discretionary. Truth is, I’m far too emotional in my trading and momentum gets me out of trouble. There are always tests and retracements before a trend gets going and that’s what I need to be waiting for.
Good luck with your Emini trading.