Monday, March 26, 2007

Scalping the S&P eMini Futures

"In the process of evolving as a trader, learn to watch yourself more....." - Linda Bradfore Raschke

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I was in scalping mode today because I just didn't feel enough patience was present in my trading. I made 7 scalps of the S&P e-Mini Futures (ESM7) today.

The losses that I took were basically due to a lack of patience in waiting for a valid setup. When I was able to wait long enough for a valid setup to occur, I had profits. That was the simple lesson of the day for me.
I also made one scalp of ZGJ7 for a 0.50 pt profit.

The OMNI nailed the move on both the ES and the NQ, but made the wrong call on the Euro. 2 out of 3 isn't that bad, I suppose.


Gav said...

I feel OMNI's result today was mainly due to home sales report. (unless Oscar is predicting news result? I don't think so).

So can't really comment on the recommendations.

Phileo said...

Hi Gav,

Yeah, I'm also wondering how Oscar knew about the drop ahead of time. You could say that the OMNI fluked out this time.
However, the OMNI also has a track record that's hard to ignore......