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Thursday, July 23, 2009

Problem with uploading chart

Good day, all!

On market open, it appeared to me that a very nice ascending triangle was forming for the SPX(S&P 500) futures but haven't breakout yet, I was wondering it should be having a slacking period without paying much attention, but when I revisit it after 9.45pm. Guess what I see? It beakout quickly and decisively, without a look back after that. What i want to tell is this: Trading is all about timing and patience. I can't remember how many times it happened, but most of time, a new trend or a clear direction emerging when you give up or nearly give up.

I wanted to show you this nice chart but I can't upload any pic at this moment. Don't know what's wrong with blogger.

Anyway, It was too fast for me to chase it...oh Gosh! I decided to give up SPY( I trade SPY instead of the /ES) and buy TSO call options instead.

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