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Wednesday, July 12, 2006

From scalping signals to swing trades

Scalping signals in 1 min chart
System generated short signals in 1min chart at 11130 and later at 11116, see the chart above.

Initially they were scalping signals. Daily chart showed weakness albeit in a bullish territory.

Later shortsale signals appear in 5min chart, see the chart below.

The rest is follow the paintbars all the way down until it ( YMU06 futures ) hit FOMC day gap at 11050.

Swing trade signals in 5 min chart



Lessons
  1. Keep the faith in the system
  2. Adopt Champion Spirit ( that means keep the freebie trade to let the profits run )

Shortsale trades at Cable were also profit-limit trades. Need to let the winners run.

All in all, a good day.

TOTAL GAINS = 92 points

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