Tuesday, June 8, 2010
solid entry, shitty exit. the q's were just grinding nowhere. they tickers weren't moving. i didn't think i would get any action. but that full move was worth $1 and then you would have easily shorted the 1pm candle. instead i got annoyed which just provoked an afternoon of bad calls trying to chase money. the only questionable candle is that 1240 hammer that broke the downtrend. i would have covered the long, but would i have gotten short, i don't know? the end of the day move is what i was waiting for but i didn't capitalize because i was so annoyed at the fact i was originally trying to short it via VXX. the tickers were flying green, easy read, but when you are annoyed at being wrong nothing helps. damn.
both trades were because of hammer shaped candles. the second trade i was much more confident about, but it show you, probabilities, not the possibility. man was i annoyed when second hammer didn't work. the trade would have been to go long with a .25 stop but i was convinced i was going to be wrong again.
man, i fired at it twice. i thought i was golden the second time around. i guess the ideal spot was that 1130 down move but i was bringing the gf to the airport.
oh, oh, oh. talk about silly. i committed the cardinal mistake, doubling up a loser, can you believe it. i was just so annoyed at it. i thought it was going to rip at least until the end of the 5 minute bar. this and TIVO was going nuts a few weeks ago. and then i checked TIVO and its back at $7. i couldn't believe it.
boy, i had some shitty trades today. and they were more out of annoyance at the market then anything. i mean, i took a $57 loser in DISH, for no reason. its not part of my plan. but i thought i could make some quick money. back to focusing on the q's, vxx, and tna.
i must learn to keep the positive attitude i had since last week even when i put on 3 or 4 bad trades.
somewhere around -$100 to -$130 for the day. honestly, i can't remember because i don't watch it during the day, and i can't log into penson, so it is somewhere around there. all because of a few stupid trades. focus baby focus. i will not stray from the plan tomorrow. it just gets boring waiting for VXX to setup. maybe i will play with eev and edz as well. that way instead of making .30, i can at least make .50 or .60. we'll see. if the stops are tight enough i will go for it. if not, i won't.
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For sure dude. You have got this man. Beautiful entry on TNA; and I don't think the exit was that bad. It was profitable - you did the best you had with the information that you had at the time. That is all anyone can expect. We will keep getting better at our reads. Concentration. Focus. Abundance is there for the taking. The market will let us know when we can have it and how much we can have.
ReplyDeleteTomorrow brother - turn on the tunes. We got this!