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Success Trading EMINI FUTURES
Oct 18, 2007 - Who thinks Stop & Reverse strategies should be part of a successful trading system?
The S&P Futures gapped higher this morning following strong corporate earnings announcements. Wall Street traders were positioned for higher prices. Think Again There is a high tendancy for GAPS in prices to fill and that's exactly what ocurred today. Not only did the S&P Futures open +13 points higher today, they fell 27 points before staging a recovery late in the day. I know many Bulls were caught off guard from this weakness. But, there's always a bright side. It's not a bad idea to stop your long position and reverse to short. There is no better time to do this than a crossover in the market internals. Specifically, when you see the Advance/Decline line on the NYSE move from +1,850 issues and actually turn negative. That is a huge change in market sentiment. This ocurred around noon central time when the S&P Futures were trading at 1546. The actual low today was 1534 so there was a great deal of opportunity on the short side. We took 3 trades on the S&P Futures today including 1 Stop & Reverse.
Here are the results of the same emini trading system from Tuesday's session.
...thanks
for the trust you've shown in MrSwing. p.s. Membership to oexstreet.com now includes auto trading access to our russell eMini system, NUTUS ER....
Disclaimer:Please note that charts and commentary provided by the moderator are for educational purposes only. Any trades placed upon reliance on the moderator’s charts or information is taken at your own risk for your own account. Past performance is no guarantee of future results. While there is great potential for reward trading stocks, futures and options, there is also substantial risk of loss and you must decide your own suitability to trade. Future trading results can never be guaranteed. This is not an offer to buy or sell stock, futures, options or commodity interests. Most trading systems are based on historical formulas which have worked in the past. However, what has happened before may or may not happen again. You can lose all your money trading stocks, futures, and options and you must decide your own suitability as to whether or not to trade. Only trade with true risk capital you can afford to lose. Only trade markets you can properly afford to trade. Properly funded trading accounts typically perform better than those that are not. Never risk more than 2-3% of your account on any one trade. Always define your risk before entering a trade and place a stop to limit your risk. There are no guarantees or certainties in trading. Trading involves hard work, risk, discipline and the ability to follow rules and trade through any tough periods during a system’s draw downs. If you are looking for a guarantee, trading is probably not for you. Most people lose money trading. One of the reasons is that they lack discipline and are unable to be consistent. A system can help you become consistent. Ironically, worrying about the monetary aspect of trading can contribute to and cause a trader to make trading errors. Therefore, it is important to only trade with true risk capital.
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