Wednesday, June 2, 2010
yes this chart is for real. that candle dips to 18. the green one starts at 24 i believe. i was too afraid to touch it. but i what a sick trade on the long side.
220 doji
220 doji, i was not expecting this runup, wow.
just showing the 220 doji along with fcx, x, tna, q's
first trade i am not a fan of. i guess it was making a very strange doji, hammer. the second trade is okay, but 5 minutes late.
uh, does it get better than that. unreal. that is called trading not to lose. i didn't want to give back $20, so i took the profit. dtf was shorting this up move. i asked him, what candle do you see that tells you to get short. now, i will be asking myself the same question, such as, what candle did you see that caused you to exit? ( i know, internally, i was getting iffy the way it was whip sawing back and forth. i always get stopped out. i didn't want to get stopped out again.) answer. none. nothing. nada. i just scalped it because i felt that is all that was going to come. the market was choppy for me most of the day so i wanted to take the trade. then later on, the h/l ticker started scrolling like a beast. hard to re-enter after its a $1 higher. but whats funny, if i opened the TNA chart and it was up $1, i wouldn't care, i would enter. but because i was in at a lower price, i was not willing to get back in. pretty funny situation.
i was looking to long the stock in the highlighted area, but i didn't because there wasn't truly a convincing candle. yes the candles went from red to green, but that is not enough. in the past i would have traded it. not anymore.
doji 220
crappy doji/hammer and late
wow, i saw this thing stair stepping. i set up a trendline alert. i was alerted when it jiggled down and i didn't know what to do with it. whats funny is, i just realized i didn't get alerted when it went through the upper trendline. i always tell myself, just set price alerts, they always go off. i really need to start doing that. i can't depend on the trendline alerts because they dont fire off 100% of the time.
it was on my radar from the other day but never caught it in time.
looks like i got some trades off of the books, ha. i don't even know why i entered this trade.
basing out. i entered this one but not DLR go figure. closed it because it wasn't going anywhere. i would have been stopped out later on, but it also provided a great entry there as well.
this morning i was very frustrated. but you have to get up and walk away. you have to know that there is opportunity all day. you need to be patient and wait for it. one wicky candle after the next as the q's climbed higher this morning. but patience and confidence would have one out.
damn, yet again i sabotage myself. i don't know why my brain doesn't want me to win. i know i was always taught, go to school, get a job, earn paycheck, have family, then retire. is that what is holding me back. the fact that my family is always asking what is my backup plan. should i even be looking at a backup plan. isn't that insinuating failure. i understand why a painter or carpenter gets paid. they create something physical. but why most people earn money doing white collar jobs is beyond me. why should anyone be able to make a living trading stocks. i think deep down this is what i think. i need to get rid of those feelings. if anything, the way i need to look at it, if people are going to make a living trading stocks, and not busting there ass landscaping, painting, plumbing, why shouldn't that person be me. my father busted his ass, and still does, painting bridges in manhattan, 7 days a week (no joke, up at 430am home around 530pm everyday except if it is raining) so that me and my siblings could have a better life than he ever had. on one hand i would feel guilty making a living so easily by trading stocks from my house but on the other hand, it should be me. by him busting his ass, he lead to my ability to have the opportunity to do this. not monetarily, but by him and my mother raising me well and providing a good home, education...etc. it shouldn't be some silver spoon trust fund jackass doing well, it should be me (if the jackass succeeds thats fine, nothing against him). now, i just need to accept this fact and not feel guilty about it. sorry for the rant gentlemen. just getting the thoughts out of my head. i'll see if i can dig up a cool pic on the bridge. you can see my ass scared shitless 200 feet up in the air.
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I think your problems is that you trade base off the doji a little too much. The doji is an indicator but not exact. Try adding the $TICK indicator to help you confirm direction of the overall market.
ReplyDeletehttp://yfrog.com/3m20100602toschartsp
Around 220 to 230, the tick was on -900 and not 1 -800 extreme until that point vs +800 or 1000+ the whole day. So the bias was up side. I just this method to play TZA and works very work usually.
btw, this is just my 2cent. just trying to help
Hey man, sounds like you are definitely getting into some past mental stuff. I know that when you start to become a better trader, often past memories, regrets, and other emotions start to come up. Keep it up and you'll get through it
ReplyDeletethanks tarigal. i'm working on it.
ReplyDeleteanon, so you use an extreme reading on the TICK indicator as a reversal signal or use it tell you the overall trend?