This blog is geared towards improving my trading knowledge and recording my trades. I am not licensed to give financial advice. Trade at your own risk. It is your fault for losing in this money game.
Monday, June 16, 2014
I posted examples of excellent/easy set ups to find. Basically, I want to "just get in" and then be real defensive. I would not mind making money (of course) or NOT MAKING MONEY, I just really do not want to LOSE money. I always remember, losing 5% or more of your value starts to require much more then a 5% gain to make it back...YOU HAVE TO KEEP YOUR LOSSES SMALL!
Taken from the previous 2 days of the S&P 500 futures 5-min chart. Very basic.....S/R lines formed by using at least two points. My entry these days would not come after a bar close or type of bar reversal....just any time price is at the S/R line. Initial stop would be a close past a recent peak, trade exit would be a reversing close past any trailing peak.
I want to look at more daily charts because I don't have time to watch minute charts during the day.
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