Tuesday, January 27, 2009

Profitable Yes - Successful No

I started off the day great, a par, a winner, and one loser that got me to -.25 net. No biggie. I took every trade that came along and managed them correctly. Then I got ready to catch a wedge break on my tick charts this afternoon. I got my signal to short at 41.50, and I had seen price bottom out at the swing low, trade through by a tick and was heading upwards. I HESITATED. Fear set in - I thought this could double bottom, and then I'll lose. I passed. The signal went on for +3 without me right to its target. I caught a double bottom a little bit later that was very profitable but the point was I screwed up. I don't have a double bottom UNTIL I HAVE A DOUBLE BOTTOM. I needed to execute and I missed a winning trade due to fear. Very disappointed in my performance today. I traded like a worthless pansy ass newbie today and that's just not good enough.

So yea... we ended up with a new equity high again but it should've been over the 1k mark and it wasn't due to ME, not my method.

Taking tomorrow off (i'll be simming it of course) due to FOMC and then we'll be back to kick some tail into the weekend. Remember, after the first hour tomorrow things will get very light and choppy. Best to stay out until one hour AFTER the release. FOMC days tend to headfake two directions before running. Typically it takes forty-five minutes to a hour of useless death swirl before it picks a direction. So just be careful in the volatility!

Trade Results:


1 comment:

E-Mini Player said...

You're such a "worthless pansy ass newbie" LOL j/k I think you did well man; don't beat yourself up too much.