Monday, September 13, 2010

shorted into the whoosh down. wanted to see what would happen. i have noticed starting a position into the whoosh is the sucker's game. you need to have a position on when its quiet and exit into the whoosh. or at least wait for a pullback. i didn't realize it at the time, but the whoosh also coincided with the 9:55 low on the q's.

i set an alert on this one. bought into it as quickly as i could. had a real nice profit on it. i was trying for more though. i wanted to ride a wave of $1 at least. the 15min tells the story though. there is a fine line between exiting and waiting for the trend to return.

bought it anticipating return to highs. let the probabilities play themselves out. got stopped. on the whoosh, i shorted it. got stopped. the 15 had some real nice signals later on. since i knew the real trend was up, i should have gone long that point as well.

i knew this trade was going to be playing the retracement trade meaning i was just playing the counter move to the major trend, which to me was up. hence the reason for the exit.


here you can see the market hanging around the 9:55 lows. 
another trading day were i was tired. i need to get to bed early to wake up fresh and ready to attack. i put on positions and let them work which is nice. entries were decent, exits were so so. i think i was down 190 on the day. but right now i am just experimenting with ideas so not overly concerned with the PnL.

lightspeed makes it slightly easier to track positions than NT. with Ninja Trader, it feels like i put on a trade and just fly blind. i don't see it again, because i don't have the control center window open. with lightspeed, i can see my positions changing and have a real time PnL that you see moving up and down. this usally helps me to see what is working and what isn't.

i think i need to find the trenders early and also, the market always helps. that is the major conclusion i always come to. most of the trades that worked for me since the beginning, worked because the market went my way. it was eye opening. which is why i follow the q's much closer nowadays.

good luck tomorrow.


dtf pointed out to me that the spy's actually broke lows. that is amazing to me. i didn't even realize. i am always trying to figure out which leads which, q's lead spy or spy leads q's. today i guess the q's showed the way. 

2 comments:

  1. Nice charts bro - and I like the technical terminology you have got going on; 'woosh' just says it all =)

    Hope you get some sleep tonight.

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  2. yeah buddy, thank you sir.

    got some accounting to do, and the final either tomorrow or wednesday. got to do what i got to do. plus i am wired from that nap today. i'll need a whole bottle of melatonin to fall asleep tonight.

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