I have been trading in the mornings on the 5 min chart for nasdaq futures in real time.  i made several mistakes on the first few days and then i started to improve toward the end of the ten days.  I made mistakes cuz i was not used to trading with my new smart phone nor making morning day grades o  a 5 minute chart.  by improving, i mean taking a smaller loss or just finding the entry easier.

6/4/12    -10pts (about)
6/11/12    +4.25pts
6/12/12     -4.75pts
6/13/12       0 (break even)
6/14/12      -12pts
6/19/12       +12.25pts
6/20/12       -3.75pts
6/21/12       +1.75pts
6/22/12        -6.75pts
6/25/12        +12pts

Lets see what happens over the next ten trades...

Even though i was having trouble using my phone i was able to enter and exit a playmoney trade for nasdaq 100 emini futures which was a 4.25 point gain.  good gain even though it felt small compared to the overall volatility.  the trade lasted two hours.  i did a good job waiting for the breakout of the long falling channel.  at the open it looked like it was going to go up but soon it turned down.

Im about to finally start trading with real money again.  it will probably be on a 5 min  chart for nasdaq emini futures.  i think i can manage making day trades in the mornings.  everything should start rolling in a week.

Lately i have liked using channels instead of the ema's for finding an entry.  i figured that since i exit using price bars, it would probably be easier if i enter using price bars too.  for the past week or so i would have gained 5, 10 or 12 points every morning.  i have to get used to day trading because thats all i can afford right now anyways.

the current weekly SP500 futures trade that im in is not looking good.  It could stop me out for a loss after this week.  after checking the chart again i realized i missed a major resistance at 1440, which is way too close.  thats probably why it stalled at 1400.  I didn't see the resistance because i needed to go back one more year on the weekly chart.  simple elementary kind of mistake.  im glad i made that mistake because if a trade is to go bad, i want a good reason for it.  Especially a reason that is preventable.  Now if i can just pay more attention.....

Sugar #11 futures have carried out a good little short trade over the past couple of weeks.  I remember passing on this short cuz i thought the next major support was too close, but i probably should have made the trade.  The trade is not over yet but it would be at around $750 profit so far.  It is resting at the major support right now, confirming the support but even if it pulled up now it could easily stop out for a profit of $600 or so.  Maybe i wont be so strict on having the next major S/R really far away.

i love Gabita, thank you for helping me all the time!

Australian Dollar futures signaled me to exit.  I dont think there was any real problem with this trade.  It just wasn't meant to be.  $720 loss if i had traded one contract. 

Really screwed up with Feeder Cattle.  Why did i ok this?  I would have only lost $100 if i had traded one contract but still.  Price action was way too volatile.  Huge bars, tiny bars, not a steady stream of bars going SE like i want.  i dummy.

I need to focus on the steady price action that i know i should be looking for.  I really like it and can see it easily after a trade but i tend to get too lenient about it when looking for setups.

Australian Dollar futures, Feeder Cattle futures both had nice setups that i would have entered.  I went ahead and went short Feeder Cattle on my playmoney program since price was near the entry price but im just going to watch Australia since it has already moved too much.  Having trouble uploading pics.  I am drawing a rising trend line as well as a horizontal trend line for support/resistance.  A close past both is good.

Hadn't had enough time to check all the time frames lately but just found a nice long entry on SP500 futures for the weekly chart.  By chance, i could enter today and it would be the same entry price as if i had caught it with perfect precision.  No resistance in the way, strong ema trend, steady bars, good for take-off.  Just came off a great daily trade.  General news about the stock market is basically bad, but fairly mixed.  i dont care about the news though.

Ill watch this trade and see what happens, if this turned out to be a good trade i would have to hold onto it for months.

Gabita, put attention!

The daily trade i have been watching just ended.  I wanted to enter it on Jan 12th.  Nice daily move with a gain of over $2400 if i had gone long one contract. I will start watching for hourly entries for now until another daily move comes along.

I read an article that said the market has been going down because of Europe's debt problems.  So i check the chart for SP500 to see how bad.  Im expecting to see a big down bar and potentially a stop out since i "entered" a long trade about a week ago.  From what i see on the chart, i wouldnt even consider price to have "gone down".  The chart looks great and i would describe it as - price has steadily risen since i went long.  Financial news is terrible.  You would have to be emotional and gullible to believe any of it.  Keep going up S and P.

I really like the strong trend, its angle and the volatility of the bars.  There is no major resistance in the way now and i would enter where it closed yesterday afternoon.

Hourly chart has been wacky so i would still avoid any trades for it.  Daily chart of sp500 futures is finally getting close to 1300.  Price is in a strong uptrend at a steady angle, so it could last for a while.  I would probably go long if it closed above 1290, which is a weekly high.  There is very little resistance above 1290.