11/19/2008

Not Looking Good

Daily Mini DOW Futures Chart
A quadruple bottom perhaps? Let's hope so as the alternative is not that appealing.

Tomorrow will be interesting.

2 comments:

Anonymous said...

solfest,
Hope you are making profits these days in YM (IMHO this is a like being in a MADHOUSE OF DESPERATION TO TRADE)

Solfest said...

LOL, "a madhouse of desperation". That's one way to look at it. Maybe I'm just used to crude oil so I like the volatility. As long as I stick to my plan I'm doing ok.

When I don't stick, or change the plan constantly, I don't do well at all.

I can't chase the lower time frames around as there are too many moves. I have been using the 15 and 5 minute chart to identify the trend direction and only trading in that direction on the smaller time frames.

I have to be 100% sure of what the plan is before the day starts and if I deviate from the plan I quit trading for the day.

Trading is hard.