Wednesday, May 19, 2010
i saw V breaking highs. then it had a nice one bar pullback. i waited until the start of the new 5 minute candle to go long. nice wickish candle at the top. excellent place for a short.
down to lows, almost back to highs, i saw the market crashing around 1015 but i didn't want to chase.
wow, great hammer, huge volume. stop way to far away though, about .60 i believe. later on it hugged the EMA and a nice doji. i never saw it. i also thought, how far can this stock go, obviously pretty far.
pretty decent volume at that V bottom
i tried purchasing around the EMA a few times. it didn't work. i just realized that it retraced around 3:30, would have been a great entry with a stop around .90
bought along EMA along with dojis. i was super nervous. the obvious hold was until the doji at the top. then it could have been shorted. i feel that i need to work on these exits because that will really keep you in the flow. imagine, longing at the doji, riding the stop until the top doji, closing the position, going short. i mean, man, you are feeling it. i think with the right chart or stock and your mind open, it is truly that easy.
this was a tough one for me. i didn't know to short or long. i bought and sold it twice. i didn't know if the play was a short with stops at high or a long. those are tough to play so no worries. but they can make you some decent change.
i think i had a good morning reading the market. i put on 2 trades both were nice winners and then my mind shut down. i wanted to protect $100 gain. how ridiculous is that. i couldn't get my mind out of protect mode. i came back later in the day and was forcing trades. i just need to stay in the flow.
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Beautiful move on V Joshua! Looks like you were out of my money lol! I don't know what I was thinking on V. Something about being invincible.
ReplyDeleteWell - good and expensive lessons today. More screen time == better trader. Just hope I don't run out of money first ^^