Wednesday, July 29, 2009

Wednesday: No much Trading +11 points





Base System: 28W-10L=38T= 73.6%
New System: 21W-4L=25T= 84%
SCS: Winner


I took two premarket trades, on winner one loser. I only had 5 minutes to watch the market today. I logged in and saw what look like reversal setting up. I bought in but was wrong, the setup had not confirmed itself. I held firm though and bought more awaiting the reversal. I got the reversal in about 5 minutes and scaled out all my contracts ranging from 1/2 to 1 point. I knew it had a very good chance to deliver two points, but could not watch the trade so I closed it out.

I am also posting some weekly pivots and as you can see depending on your reading of the market and your entry system, there are indeed plays off these levels quite a bit. I like to use Demark, Standard and Camarilla. If I have time or if I had more screens I would always add the daily pivots as well.

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