Welcome ... Day Trade The SPY Live with Market Trader Tao

The Market Trader Tao
NeboXian's Day trading journal
is updated live during NYSE market open with observations , technical analysis and trades as they happen.
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Friday, May 29, 2009

ProphetCharts: SPY


Wow.....Got it just right! see the previous chart on the weekend post...this was a very hard price action to day trade.....it just go's to show if you plan out ahead and take a good entry with a proper stop.....place the trade and hold your nose.....it is very hard to do even for the most experienced traders.....I try to stick to the plan because almost avery time I deviate or or become impulsive....it cost money ...and I end up unhappy with my self. mY best work comes when I take a core position of 50% of my trade commitment and make my best entry...the balance i use to trade the swings during the day...I'll post a new game plan for next week on sunday



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