Tuesday, May 03, 2005

1:40

I sold one and then another a few minutes later at about 116675 for both. The Tick was very high for 2 bars and it was falling as was the price, also the stochs were very near the peak and close to crossing. I waited just a few minutes because there is a tendency for the market to start falling before the stochs cross over in a fast market (this was fast after the fed meeting) I waited until we had a close that was lower than the last bar close to tell me that the market had atleast taken a pause and at most was turning. That was my setup. I covered 3 points lower and the market has just kept falling! I have made double my desired profits for the day and it was the first good day of trading in a long time. I'm going to stop and relish the moment while I cut my grass!

Trader X

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