The DIY Economist

Another down day. This market seems to want to wipe me out. My relevant entries: 2009-04-09_1302.png Overall, my attempt to trade directionally in the end of today's trading was disastrous. The breakdown (2nd trade) was successful initially, but was stopped out by large bullish buying activity at the close. For several times already, the activity during ...

Again little to no activity here on the markets. NY lunchtime is a very slow time. If there's no activity, then don't trade.

I have been studying the USDJPY charts for some time trying to understand the daily movements. We have a bullish wedge + breakout today. Look how nicely it hit the target of the falling wedge. I was spotting an entry at the first pullback at .80 (stop at .76) but I didn't have enough confidence to ...

One word: choppy. Markets did break above the head and shoulders line, but quickly reversed, only to make a comeback late day. P's found support at 815, and a test of the rising trendline from the March 6 lows is possible. I took no trades today.

Markets are stalled at these levels. A breakout above session highs was attempted by NQ, but it was a bull trap (haven't I seen this before? *cough *cough. Always wait for a confirmation.) No trades right now; remember regardless of your money situation, there are times where having no trade is the best trade of all. ...