5.26.09

what can i say about today. i bought sds as it seemed that the market was going to roll over.



as i was hitting out i felt that the position would come back to at least break even. but, i could not concentrate on the trade. i was dead tired this morning and probably should not have even put this trade on if i didn't have the focus to follow through.

it is getting tiring putting on losing trade after losing trade. the sds trade i was up .20 and i was thinking about hitting out but i did not want to give up a much larger move that i believed was coming. was i correct in holding on? probably, because i can't keep taking these small winners. they aren't going to support me. i was looking for .75 to 1. but this time, i wound up hitting out pretty low and taking it on the chin.

i know i need to focus more on the charts and not take medicore set ups. i have to treat this as a business and focus my mind. i want to make this work. its only been a few weeks. i am not down because every day is a new day, and honestly, i am one decent trade from being break even. but, getting at break even isn't the objective. i have to take my mind away from the p/l and just trade the chart. the money will follow.

the times i feel i have the most focus is when i am down on the day in the morning and i trade my way back closer to being break even in the afternoon. when i am down, my concentration is great. i need to have that concentration first thing in the morning. every day you come in with a fresh p/l so, it seems as though i am back at break even every morning but really i am not. i feel like it is a video game and i just hit restart and i get all my money back. but, this is not the case.



mon was going down along with the market. i know that there was 3 big down bars, but i thought there could be some more momentum behind and i could scalp .25. it wasn't the case, i made .09 which is shit.

looking at the 3 minute chart, maybe i would have had the chance to get in sooner, because you can see the move happen before its over vs the 5 minute where 3 bars and out you get 7 bars. maybe the 3 minute is a chart to check out for any of these momentum stocks i want to play.




still working things out. i will get there. writing about all of these mistakes is very helpful. it relieves the stress and lets me see where maybe i need to concentrate more.