when i leave the computer i log out of lightspeed to give it a break. when i logged back in the q's were making this higher high, and the SPY were going down. for the life of me, i couldn't figure out what was going on. the h/l ticker was going down, and the q's were going p. i finally logged out and logged back in and what came up is below
much better looking. man, threw me for a loop though.
i was going to mark the chart, but you can see how it easy was to spot these trends in real time. unfortunately, i was annoyed with 1045ish candle. i went long some stock, then covered it as it felt the market was going to go lower. instead of shorting the market, i sat there. of course i was correct, and then i wasn't able to get myself back in the flow. for me, it seems, once i get the trade wrong, i get angry at the market. when in fact, i literally lost $8. who gives a shit about $8. apparently, deep down inside, i do. silly me.
you can see the long here. i felt the market was going to turn so i covered, but didn't short because i had no confidence. once i missed that short, i couldn't get myself to put on another position all though it was easy enough to read. in fact to me, it was so easy, i said, this can't be for real, this can't be that easy. i feel like its going to end. everyday i think, there is no way the same momo slowing signs are going to occur again, but yet they do. have they been happening everyday for the past year but i just haven't seen them until now?
ha, i tried to go long right at the top but canceled the order. i had seen it going up and up and up and i thought, is this stock just going to keep going up all day. i guess not.
don't know why i went long here. oh, i remember. i think gold was popping.
the other covered trade. no big deal. just short it. it was so easy to see but i didn't put the trade on. unreal.
next monday, i may just trade VXX, 100 shares, on every signal i see and see how it goes.
have a good weekend
Its cool you recognized the market turn around, QLD would have been a sweet ride down.
ReplyDeleteI feel like we are both on the edge: almost ready to listen to what the market is telling us. I think my tendency is to be a little too haphazard instead of too cautious (even with real money surprisingly). I am thinking that energy spent wondering/feeling/thinking about our response to the market is energy wasted - it is better spent on focusing on the market, to the exclusion of everything else, and then just responding.
In the zone. Have you had that feeling yet on some trades? I find it popping its head up every once in awhile. Going to try Scott's mp3 this weekend.
I feel inspiration for another blog post coming on - this comment got me thinking lol.
Fozz - you got this bro!
i felt totally in the zone a few times but it is a rare occasion. the only thing i can compare it to is playing a musical instrument. when i was younger, i remember practicing an afro-cuban rhythm on my drum set. i was really getting into the groove. all of the sudden, my sister was screaming my name. i jumped up and freaked out and she ran crying to my parents. then my mother starts yelling at me for yelling at her. i was like, what happened? i looked at the clock and realized 2.5 hours had elapsed. i had no idea. i was just playing the beat over and over again. my sister told me she was calling my name for at least minute before i responded. that is in the zone brother!
ReplyDeletedid you see the chris rock and kobe bryant clip? chris rock was trying to be funny with kobe the other night at the laker game and kobe had no idea. kobe says he is so focused nothing can distract him. that is where we need to be.
and agreed on the energy waste also. my gf was talking with a therapist friend and was telling the friend about all her after school commitments, projects, and duties. the problem is, my gf teaches all day, and then whenever somebody asks her to start a club, or organize an event for the school she just says yes. she never says no. then she ends up being in charge of all these activities (because the folks who originally asked kind of take a back seat) and burning out on all these school activities. so her therapist friend said that those people and those activities are energy consumers (drainers, we actually can't remember the term the friend but it was more eloquent). and i agree. all the energy spend wondering about this, or looking back at a trade saying i could have made this much with the many shares, it is all an energy drainer. we just need to focus on the present. no, could have, would have, should have.
my latest problem is pretty funny actually. i see how easy it can be. for the past few days i can call the moves, but i say there is no way it is this easy. so i don't put any trades on. i don't believe that day in and day out it can be so simple. i feel like tomorrow, the market will change and i won't be able to read it. therefore, i don't want to put any trades on. very strange. so, i am going to attempt to just trade VXX on monday as i call the market moves. 1 penny spread, nice volume, in and out. once i get in the flow, it shouldn't be a problem. the problem is not getting agravated after the first, second or third stop out.
lets see what monday brings. i have to remember $500 a day adds up fast.
you guys sound like you are close to making a breakthrough. it is in fact as easy as you make it. all my posts about simplifying, not thinking,no distractions etc follow this concept.signals appear and they don't care if whether or not you take advantage of them. when your response is the correct one based of the prevailing info you make profit.
ReplyDeletemore time spent on self mastery will pay off exponentially more than wondering, thinking and predicting where the markets will go.
you see, when you are able to see the signals for what they are and trade accordingly, you are doing everything you need to do.
thanks man. i really feel like dtf and i are right on the edge of success. i've spent a few hours today going through my charts since the beginning of the year. i've made it through january so far, and have just been laughing at all the mistakes and misreads i have made. i think this week will be an important one for me. i'm going to just work the plan, watch the q's, stay focused, and trade fearlessly.
ReplyDeleteits amazing looking back and seeing the trades that worked were because the market showed a certain candle and then went in the same direction of the trade, not because of some fib level, pivot point, or moving average.
thanks for the new mp3 file.