It is 10:30 am et on a bank holiday day and I am done for the day. Was trading just one lot a time to be conservative on a low volume day. Started out with a small loser. Results below -
I have been doing some analysis on the value of a tick or the cost and advantages/disadvantages of buying at the bid and selling at the ask. I wanted to find out which instruments had the "cheapest" and most "expensive" ticks to trade. Below you will see that ES, S&P 500 futures are the worst when it comes to getting value for the ticks you accumulate.
1. Plan. Plan your trade and trade your Plan. This one cannot be disputed. What is a plan though? To me a plan is an answer to the following questions: Continue reading
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Took only short trades today, what a day! Oil down 3.3 dollars as of this writing. I am obviously done for the day and going to go play golf and come back tomorrow for more 🙂
My favorite setup - rail Continue reading
Step 1. Have 2 accounts, one with Continue reading
All I do is sit, all I do is wait;
Market hooks on my hefty bait;
I follow the rules, I follow the bars;
Now I buy homes and nice cars.
Today I decided to only take the premium setups. If you were trading today most of the morning and afternoon were so slow it felt like a line at the DMV office in the afternoon. But I was still able to capture a few Continue reading