Monday, May 05, 2008

May 5. YHOO and FRE trade of the day

There were easy setups in FRE and YHOO, but my goal today was to trade my futures setups.

I said I was going to watch this today. I probably should have shorted it. Oh'well.

ZF long scalp-

The Volatility in Crude Oil is too much for me to handle right now-

Should have used a wider stop and waited for financials to weaken more. Overall I disliked this stock and quit trading it because it seemed illiquid and choppy.

I got a little frustrated trading NQ from all my stops getting hit.

I got a buy signal on GC this morning at 864. Should have taken it.

NYSE A/D was in my favor for this short trade. Which was my easiest trade of the day.

Good trade on ER2. I added to this winner when it went about 7 ticks in my favor.

I need to start working on keeping half of my shares at breakeven incase I get a runner.

My avg.was about $200/day last month. So my goal this month is too achieve this number and focus more on trading index futures because I make the bulk of my profits trading ER2 and ZF. I'm quiting early today because the market seems very thin right now, which is probably due to some overseas markets that were closed.

Wheat bubble-

Rice Hype-


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