It looks like there was quite a bit of volatility last night. Still waiting for my charts to "fire up" but looking at the current Globex prices, it must have been a wild ride.

For those who trade Chart Patterns, I've posted a link to Thomas Bulkowski's Chart Patterns

Review of last night's trading. The long just after the opening bell gave me a decent 1.50pts. Was rather glad that I took profit as shortly after that, " the matched top " at 1380.25 gave a little hint of weakness. Remember, we Trade from Strength. The PF at 1280.00 (09:50:53pm) was a super aggressive SHORT, which I would not have taken. BUT, the PRIME PPF at 10:15:46pm would have Triggered my SHORT, as the TREND chart was showing that PRICE was doing a challenge of last Oscillation support at 1370.50. If you look at last night's post at 10:25pm, I mentioned that I had missed the SHORT, all because I was doing something else...arghh. Kinda frustrating! Again, a lesson to learn here. One must be in "battle mode" when opportunities present itself. Once I miss a decent move, often, I stay out until the dust clears...In fact, the opportunity presented itself again when a another PRIME PPF occurred at 09:31:01pm, with a beautiful PF at 09:31:38pm. This trade would have given at least 2pts.

Do remember that the Overall TREND is still up. I am basically trading from minor/prime confirmation of tops & bottoms.

It's been just over a week that I've set up this blog and it sure looks like things have been moving on pretty smoothly. However, I 've found that quite a bit of time is needed for me to update this blog, post interesting Links and reply to emails...I spoke to a friend yesterday, who is into Internet Marketing, and he said that I should market my blog aggressively, so as to receive passive income from it. But he said that I had a problem here: Striking a balance between being a true blog, and earning a decent amount of passive income at the same time.
My blog started as a way to bring other traders together, by my daily posting and observation of the US futures market. It was also a way for me to record my progress as a Futures Trader & the journey I go thru daily in trying to build this into a successful business (someone said that trading should not be seen as a career, but as a business...think about it).
He told me that to generate passive income from this blog, I would need to "aggressively" collect the emails of these targeted audience. And to market products and services to them (not spam - but on a opt-in & opt-out basis) I told him that I was not comfortable with this...
But this is what I told him I would do...From time to time, I will post Links to sites offering their products/services (in the true spirit of the blog, it will be trading/money/finance/investing related sites). This sites would have affiliate programmes, and would pay me should anyone decide to purchase the product/service. You, as the reader of my blog, can then decide whether the Link is worth clicking into, and eventually, whether the product/service would meet your need/concern. I will post a disclaimer when the time arises. Please send me your comments via email on this recent development that I have in mind...Much appreciated.

09:26pm Looks like PRICE is going down to challenge 1367.75 (last Oscillation support on the TREND Chart. Will see what happens at the opening bell.
09:35pm Looks like PRICE is aiming for 1367.75. Will look for a Breach (Oscillation-wise on the Trading Chart), then a PPF to go SHORT.
09:48pm Caught in Consolidation. Two PRIME PPFs in a row.
09:59pm Now two Oscillation PPFs on the TREND Chart. Would want to see a BREACH in either direction on the Trading Chart first, to clear up this consolidation, followed by a PPF before taking the appropriate trade.
10:06pm PRICE is heading the other direction...UP! Bill once said that should there be any consolidation, take the trade that is in the direction of the TREND (confirmed Trend, preferably).
10:13pm Looking for a PRIME PPF to go LONG - hhich may, or may not happen. Will see what the PRICE movement says...
10:18pm Going LONG at next challenge of last oscillation support at 1372.50. Not comfortable here. Will wait for PRIME PPF of support.
10:36pm PRIME PPF. Going LONG here must result in a BREACH of 1375.50
10:42pm Holding back on the LONG. PRICE is struggling here...
10.45pm Oops...PRICE still going down. Now TREND Chart has pointed down to challenge 1369.00. Warning for LONGS.
11:04pm For SHORTS, PRICE must BREACH 1369.00
11:18pm Market is crawling ! If I don't see a set up soon (SHORT), I'll be retiring to bed.
11:20pm The moment I say it, a potential SHORT is happening...Hahaha...nope, it hasn't. Need to see a convincing PF. My earlier take still stands...No set-up soon = SLEEP