Click on chart for a larger picture of today's price action. This week once again proves how tough it is to trade the week of Triple Witch. That is, with options expiring, futures expiring, etc for the month of December.I have come to a conclusion that a day trader should have eight weeks off a year now. Two in the middle of Summer, Two around XMAS and New Year's, and each week of the triple witch weeks. What I mean is the 3rd week of the month that falls in the week of the current ES contract. The months that this effects is March, June, September, and December.
December has been a tough month overall to trade. Tomorrow being Thursday will be my last trading day of the year, and I will not commence trading until after a nice 2 week break. My trading will continue once again on the 5th of January, 2009.
This week I will put together or early next week a blog post with the trading net gains up to this point in time from when I started the blog back in May. I have some real good news to report into next year, but we will wait until it is official before I say more about it here on blogger.com.
In any case, this week of trading has been tough in both markets that I like to trade, ES and ZB. There has been some real good move in the G6E recently around the FED RATE cut decision and the European banks.
Next year, I plan on occasion adding a G6E trade to my current trading plan. I am looking forward to the time off to do some much needed back testing, and planning for the next year. With this being said, we will see what the market is willing to give tomorrow, and remember to "TRADE what you SEE and NOT what you THINK!"
Good Trades,
David AKA Tiger
P.S. The Pilot Trading Chat Room has been a lot of fun over this week. I look forward to continuing this room in 2009.
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