Welcome traders, our first blog is here to start off the new year. No none knows what 2009 will bring but looking at today’s market specifically the E-mini, the uncertainty of where price is going cannot be more evident than today. We had a bad news this morning, unemployment figures are the worst since the late 70’s. Instead of the market tanking, the market rallies! So you still want to trade the news? I think not. We followed the price and profited before noon, took 2 and 4 points.
While everyone was following the “trend” and trading off of the dismal news we watched price do its thing, and took our profit. I scratch my head thinking about how and why. The truth is the markets truly have their own way of moving price. So instead of betting on direction chosen by uncertainty, lets follow the market by watching price action and letting price lead the way for us. Good trading and lets have another successful year!