Thursday, June 4, 2009
visa was called out at the office and i bought it as it was breaking highs. a little bit late, and not on the retracement which is a safer level but none the less the trade worked out but not my handling of it.
i just get nervous after a few ticks up and sell. for some reason i can't hold on. i think it is because in reality, i really don't know if what i am doing works. i don't know first hand because i haven't experienced it. once i get a few more positive trades under my belt, i should have more confidence in the retracement set up and in myself and my timing and my stop and my exit. obviously this comes with time. i know i can't just walk up and play a golf tournament with the pros i have to work at it. i feel it is the same situation here. i just have to remind myself that the game plan works and trade it. can't trade not to lose, must be trading to win.
i shorted apol as it rolled back over it's 23% retracement. i saw on breifing earlier that all the education stocks were going down. i was early on this trade and really had no other factors going for besides the shooting star and the roll over. the 20 sma was far away and i should have waited for that. then the trade would have worked. the problem is you don' know when to go for it, and when to wait a little longer.
hes was moving up, oih was moving up so i bought nov as it broke the mornings high. i didn't like the stop at .49 (previous candle low) so i was very hesistant. i got out real fast because i thought it might collapse kind of how apol ripped up right after i got out. anyway, you can see it when on to be a nice winner with out me.
got to be confident, set my stops, have faith in the trade. got to make money on my good days because we know on my bad days, four bad trades and thats $100 usually. so, making 40 bucks on a good day ain't going to work.
thats it
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