Monday, May 16, 2011

For trading today, I'm short stocks, CAD, wheat, cocoa and corn. Market currently very volatile and is in the midst of a probable trend change. Very hard to trade now and am only doing 1 lots to minimize damage until trends are clear again. I have been reflecting on my trades and thank god SMR has a Step Mode where I can go back to any point in time and start paper trading from there. I feel sharper and more confident now. Which is always a good sign for traders, I guess.

Russell 2000


Trend is up but anticipating a change, ML solidly down with SL first turn. Prices have to stay below 835.28 for SL to sustain. If SL breaks 835, easy out decision.

Wheat


Trend ML and SL solidly down. Prices need to move up 22 points in order to push up SL. Very hard. No stops placed will review tomorrow.

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