What This Blog Is About

This blog is my trading journal. It contains my reasons for entering a trade and if I decide to put the trade on, my entry and exit strategy. My trade results will be recorded on my Yahoo Group site. A link to that site is provided below.
Do Not attempt to trade real money based on anything you see or read on this blog. It is intended only as a learning tool for my readers and myself.
If you are interested in learning to trade the Emini and Options markets, I encourage you to open a “demo” or “practice” account, use this account to follow my trading plans. Remember, Do Not use real money or trade in a real account based on the information in this blog.
All times given are in Hololulu Standard Time (HST) unless otherwise stated. I will sometimes use Greenwich Mean Time (GMT). To convert to your local time, click on the link below located under "World Time Zones".

If you have any questions or comments, send an email to Mrpipman@yahoo.com or use the "comments" link following each posting.

Monday, November 24, 2014

Emini S&P 500 Futures Contact

November 24, 2014 15:00 EST


The Emini offered the perfect entry this morning at 5:51 EST.  The 5 Minute chart showed a shooting star at 5:45, this was engulfed by the 5:50 candle.  The 15 minute chart also engulfed its previous candle at 5:45.  This was confirmed by a MACD Failure Swing.  The order was entered at 5:46 EST as a market order and filled at 2067.  A Stop Market order was placed just above the upper wick at 2070 for a risk of 3 points.  A OCO order was attached to the Stop at 2062 for a Risk to Reward ratio of 3 to 5.  At 14:00 EST the 10:00 am 4 hour candle completed.  This candle engulfed its predecessor suggesting more downward movement.  The Stop remains at 2070 however the OCO limit was lowered to 2057.50, area of support just above the previous low.

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