Friday, June 13, 2008

Friday Day Trading: ES Bonus Trade

Click on chart for comments on trade. This trade came at 10AM Eastern time after the release of the Michigan Sentiment Report. The trade went on to reach target easily without looking back.

Have a nice weekend. I will be taking a few days off during Father's Day Weekend, so I will be trading very lightly early next week. Most likely, be updating my blog on Wednesday or Thursday of next week.

David AKA Tiger

Thursday, June 12, 2008

Thursday Day Trading: ZB Trade ... ALL DAY!

ZB Trade ALL DAY!! It was a fun day in the bonds today ... I give an update blow by blow in the trader's forum on this website: (go to link Trader's Forum). Just wanted to show it in as close to real time as I can get with a posting system. In any case, I wanted to show how the 112^13 area continued to give support and resistance during the day trading.

Finally, at 2:20PM Eastern time, I saw another opportunity to short the bonds. This was rewarded with a victory WINNING Trade.

Good Trades,

David AKA Tiger

Thursday Day Trading: ZC Long Entries Today

Click on chart for trading comments. There were 2 trading opportunities according to my trading plan today in Corn.

David AKA Tiger

Thursday Day Trading: ZB Short Trade

There was a 8:30AM RED REPORT on Retail Sales today. I looked for an entry after the report and was ready to go short at 8:35AM Eastern Time. What I did not like about the trade was the way it started to bounce up in the last minute or at 8:34AM. I decided to stand aside.

At this point in time, I looked back on the charts to determine if there was any support from a previous day that I needed to be aware about. What I saw was on May 30th, there was a low established at 112^13. Something made the market bounce at this level?

My trade opportunity came at 11:05AM Eastern Time. I liked the rising volume. I also like the close below the support line, that I drew on the chart. So I took a SHORT position in ZB at this time. What I was looking for was a quick downward move to my target. This didn't happen as planned, so I placed my stop one tic below Breakeven and got out on a time stop.

This trade shows you that you can plan your trade, and trade your plan. But even with the best of trades, they don't do what you expect or would like them to do. So active trade management is the key to victory as a day trader.

UPDATE: Trade went on to hit target nicely entry was at 12:35PM Eastern time and went on to target of 112^03. On a side note, CORN continues it's move up!!

Good Trades,

David AKA Tiger

Wednesday, June 11, 2008

Wednesday Day Trading: ZW Long Entry

Corn went limit up and WHEAT reacted to this event on the 11AM Eastern time bar. This trade went on easily to reach target. Click on chart for comments.

This does it for the day and charts. All in all, an awesome day to catch a few trades in the markets today. Have a nice trading day, and as always, if I can be of any assistance in your trading, then just ask.

David AKA Tiger

Wednesday Day Trading: ZC Long Entry

Corn was up plus 20 when this trade was taken this morning. There is a 30 cent limit move in corn which was reached on the 11:00AM Eastern time bar. This was a nice setup to get into corn and ride it to target.

On my next chart, you will see the wheat market react to the corn limit move, and how I approached that trade. Click on chart for comments.

David AKA Tiger

Wednesday Day Trading: ZB No Entry

Click on chart for comments of why not to take this trade.

Wednesday Day Trading: ES Short Trade

Here is where PATIENCE pays off in waiting to enter the trade. Trade was to go short at 10AM Eastern time, and easily reached target. Take a look at volume on this trade. Click on chart for a bigger picture of the chart.

David AKA Tiger

Tuesday, June 10, 2008

Tuesday Day Trading: ZW Short Trade

On my 3rd trade of the day, I turned my focus to the grain markets. I liked the way CORN and WHEAT opened today, and decided to look for an entry. The markets were trading basically in unison as I looked at corn and wheat. My decision to trade wheat was at 11AM Eastern time.

This trade took some time to develop, but in the end it went on to hit target, before it decided to turn back up. This trade was profitable. More importantly, I made up for my non winning trade with this trade and went to nice profit on a day that was not offering much to trade.

I am happy with this trading day. But let me say this, if I would have lost on this trade, then I would have quit trading for the trading session. My trading plan tells me not to take more than two losses in a trading session. I had a breakeven, a loss, and a winner today.

My net gain on the day was positive as I like to win more than a lose when my target hits against my stop.

Food for thought for you ... today was a challenging day, and it could have went either way. I was fortunate to win today, but with that being said, I had a plan not to trade, if my wheat trade would have been a LOSS.

Best Continued Wishes,

David AKA Tiger

Tuesday Day Trading: ZB Trades

My first trade of the day was in ZB at 9:20AM. This position was closed as the stock market was opening. I brought my protective stop to BreakEven plus a tic and it was hit.

The second trade in ZB came at 9:50AM. This was on a failure of the Spike Reversal, and looking for a continued downtrend. This did not materialize and my full protective stop was hit. This trade was not a winner.

At this point in time, I decided that the bonds, currencies, and indices were in a trading range and stood aside. I, then, turned my focus to the opening of the grains.

David AKA Tiger

Monday, June 9, 2008

Monday Day Trading: ES Watch Volume!

Click on chart for comments. Today, I am showing you the ES chart that I was looking at in my trading today. I want you to pay close attention to the volume and entry areas in my trading today.

The charts looked good on the first entry, but the volume wasn't there so stand aside. In the second trade, the one in the afternoon. You will note that the chart is looking good and you have RISING VOLUME as well. This is a VALID ENTRY and one that paid off today as it went on to TARGET.

Your Million Dollar Lesson is over now.

David AKA Tiger

Monday Day Trading: ZB Short Trade

Today in the bonds, there was a pretty easy trade at 9:20AM Eastern today. If you click on the chart above, you will be able to see the chart much easier. I want to point out the volume today ... rising volume vs decreasing volume. Although, it is not necessarily the sign of a good trade, but having all of the pistons moving in the right direction is one of the keys to a lot of my easier trades.

Food for thought!

David AKA Tiger