(Before It's News)
Trin Café fans, I am as shocked as you, I thought I would be a lot more active blogging about my full-time trading experience. I quickly realized that the stress of real trading and dealing with all my first world problems makes blogging the least of my worries. Maybe that will change in the future? I took the time to blog about a current trade I am currently in right now as I type this out.
I’m short the YM @ 20830, I am down about 30 points on a 1 lot contract. I entered into this trade at the open, as the chart shows, it has gone far aginst me as I am not surprised. The logic behind the madness is in my analysis in the above daily chart. If and when the market sells off, it will be below a pivot point which can bee is seen on the 2nd chart above, on the 30 min chart, it’s still clearly a bearish pattern, but that could change quickly as the past few weeks have proven.
If trading on a much faster chart, a trader will see both buy and sell signals in this volatile market, hence the small lot size. If the price comes back to my initial entry, I will quickly add to the position hoping for a continuation of the bigger pattern.
Can’t time the market, at best, you can trade what’s happening and hope the market moves in your favor. If market direction was obvious, we all would be profitable.