Tuesday, July 6, 2010

i was surprised by the action here. market was going down but the VXX wasn't moving too much. i closed it because AAPL and the Q's were moving up. I thought AAPL was going to pull the q's to new highs.

double top, wish i saw it real time

i was adding into the double top. i was short the market on the earlier move via SDS. then i covered, went long QLD as AAPL was hitting the highs. I thought market was going to break highs but it didn't. I guess I needed to flip the switch again and go short. I don't think it shows here  but I believe the market was right on the 20 EMA as well, but that may be another stock I was trading, i forget.



only covered because AAPL was breaking highs. I guess I need to leave these stops on no matter what happens. I can't close due to momo unless I am really in the money. Stop was never threatened.


i highlighted the correct area i believe for the exit. even though it is relatively the same price, it is more important to hold until the market shows me to exit. but i had to take some profit to keep my PnL up.

I don't know what i need to do. DTF said "how many times does a man need to make the same mistake". i don't know the answer to that riddle, but i do know i constantly break one rule "don't exit until you either get stopped out, or you get an exit signal from a candle". it is so easy to hear it, and write it down, and repeat it to myself over and over, but man its hard to implement. lots of money left on the table today.

The problem for me, i was really thinking long, long, long. i think i had 300 shares of qld long near the top. and then it just turns around, and i can't even recognize the double top. unreal. i am going to keep a look out for those.  and break my hands in between trades. i have to have a punishment for breaking the stop/exit rule. maybe a hammer to the groin area, i don't know.

good luck tomorrow.

1 comment:

  1. Lol - please, no hammers man. If it works I don't want to have to go that route =)

    Nice trade on NEM and SBUX. I don't think you could of timed that any better on SBUX. Looks like you traded very well bro.

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