Monday, November 22, 2010



AMZN: The first long was correct. What I failed to realize was that in order for this pattern to work properly, AMZN would need to take out new highs. Thinking about it now again, maybe new recent highs still validates this pattern. I was just looking at my stop area and thinking if it makes a new lower low, then we are out. It seemed to double bottom on the 5 min and I added. Then Smack!  I shorted again later on after a run into the doji. Mistake again. I just feel like I was fighting this all day.



AMZN: I am trying to figure out the trend with the lines. When is the uptrend from the morning invalidated.
 It seems to be right as I went long and it turned over.



GS: Perfect 15 min short opportunity. I need to concentrate and just keep pouring through the charts to find the best of the best. I know I don't right now.


MEE: intraday snapshot of the 1 min chart of MEE.


MEE: Breaking to new highs after consolidation.  The exit looks great but it was premature. Just trying to lock in some change. beautiful re-entry using the 5 and 10 together.



Q: Any other day, I would have shorted the junk out of the q's around 10am. But, I realized I had a recency bias. Last week, the market would pop and consolidate all day. I said to myself, "i'm not getting caught in this shit again". Of course, today it would have worked. It feels like I am always tweaking, always adjusting, when in reality, I should just stick to the same plan day in and day out. If it doesn't work one week, it will work the next. I guess the question is, when is your plan not valid anymore. I feel like a dog chasing it's tail. Never quite going to get it. 


SNDK: Proper short and got scared playing the intra 15 min candle. Need to let it finish.




Another not very successful day.  I need to get my head out of la la land, and get in the flow.

1 comment:

  1. I hear you bro - tweaking is so tempting and probably the downfall of a lot of new traders. How to balance learning and an ability to be adaptable with the need to be consistent? Tough question.

    Knock 'em out today bro!

    ReplyDelete