Monday, May 24, 2010

















bought at the start of the new 5 minute candle after big down volume. nice retracment to the ema
















bought after retracement to the ema. nothing happening
















trying to buy after the hammers.

































wow, how did i miss that hug of the ema. i shorted at the end of the day when the market started collapsing. i thought one of the weakest stocks on the day would go down, ha, guess not.
































fib retracement
















i waited to short until after that green bar retracement from lows i shorted some more. yes that wick is real. then because my avg price was much lower, i covered early even though my orginal stop of .07 would have been fine. i believe i have to put on all my shares at the beginning. averaging into winners is a good practice, but it has a strong effect on the avg price.
















bought after the hammer. didn't work out.
















nice doji, big volume.
















hammer big volume.
















hammer big volume. multiple time frame confirmation.
















stopped out on a trailing stop. i was trying out the trailing stop for the first time. i wish i would have given it more than .20. i will know how to set it up better next time.
















shorted against .50. then i covered and went long when it was hanging in the .45 and went long. i discovered something interesting today though. i learned about the ECN book. there was 300,000 offer sitting on the books at BIDU at .50. it would take a shit load of buyers to get through him. i am going to watch the book more closely.

today was a rough day for me. it is one of the days where i question if i have any idea what i am doing, or any business being in the business. although after reviewing the trades, i don't feel as down. i had some trades that if worked better would have been great trades.

i also am not going to look back at trades and say would have could have. i was reading that doing that is "being right" by "being wrong".

i am really starting to focus hard on the visualization process. in fact, i fell asleep last night watching my PnL in my head go to $5000, yeah come on!

2 comments:

  1. I like to read Scott's $800k day post for visualization =)

    I can relate all to well to those negative emotions - keep trading well and don't let them get to you. The money is there just waiting for us to pick it up. We are going to nail it on the next trade!

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  2. yeah, that is a great post! thanks for the encouragement.

    ReplyDelete