My emini SP 500 saga continues

[SSI]

Trade 1: short 1 from 1416.50, out at 1409.50 (+7 pts)

Trade 2: short 1 from 1403.25, out at 1388.25 (+15 pts)

Trade 3: currently short 1 from 1390.00, stoploss now at 1394.00..

very low risk trade setup..... will probably stay overnight if not stopped out.

each pt is worth $50..

 

[SSI]

another big selloff near close.......... emini sp 500 currently at 1372.25........

once again, a nice trade....... nice volitility and very predictable since the decline.......... simply sell the rallys and trail the stop.......

currently short from 1390, will probably place stop at 1380.25 but need to look at a few things..

low of move now at 1371......

 

[SSI]

appears that i was stopped out on the night session...... out at 1380.25

+9.75pts

currently flat everything...

big move up overnight.........

 

[SSI]

Trade 4...

currently trying to buy a march emini sp 500 at 1481.25 or better (limit order)... market is at 1486, will have to trade down to get me in.......... first stab at a long position........ if im filled, this will be a shorter trade, im still biased to the downside for the moment...... just not today....

 

[SSI]

trade 4: order cancelled........ currently flat............. no orders working..

 

[SSI]

today was definately a day to buy............ in case anyone was wondering, my order to buy at 1381.25, would not have been filled...... Closest it came was 1382.25.........

currently flat all markets (for a change)........

 

[Iceman]

SSI,
I opened a scottrade account to just dabble and learn some things. Can I get involved in the emini with it like you are doing?

 

[SSI]

no, i dont think so......... the emini sp 500 is a commodity......... it represents about a 70k block of stock, or so im told.......

it takes about $3500 margin to trade it........

its been a wild ride..............

ive made 32pts my last 3 trades.................. currently flat........

missed the darn up move today..........

i belive you will have to open a futures trading account to trade commodities......

 

[SSI]

they are already into wednesdays trading session.......

currently 1395.75........

some points to watch............ 1368.75, 1382.25, 1390, 1399.50, 1406, 1410.25, 1413.50, 1418.75.....

these are supp and res areas..........

im currently neutral on the market......... my biased switched today.....

will post trade 4 later...........

 

[BadassMoFo]

SSI, I am interested in what you are doing, what is my initial investment to get into this. Thax

 

[c00kieS]

Are you talking about trading options - futures of the index? is that what you are doing? I don't really get this thread, lol.

 

[SSI]

trading emini sp 500 futures.........

margin is $3500 initial and maintenance margin is $2800..

in order to trade with my method, although this needs to be in the other thread........... you would need at least $5,000........

 

[BadassMoFo]

trading emini sp 500 futures.........

margin is $3500 initial and maintenance margin is $2800..

in order to trade with my method, although this needs to be in the other thread........... you would need at least $5,000........

Where can I learn how to do this type of trading.

 

[SSI]

google commodity trading...

technically the sp 500 futures contract is traded as a commodity.....