Monday, 8 April 2013

3-4: Wounded, But Not Broken

I'm still leaking oil here folks. I came in today hoping that I could turn around my performance thus far by sticking to my trading plan, but it didn't happen. I had more winning trades today than I've had in the last three trading sessions combined. That's good, but not GREAT. I was able to get more in tune with the market (I still got shaken out a few times though-waiting on too many confirmation signals from the market), especially around 2 pm, when the market started to turn upward.

Interesting, huh? The market traded inside of the previous days range until around 2:40, then it took off. I don't want to assume its next move, but it appears that the market is telling you that it is still bullish.

I still made some mistakes early. Early in the day, you were rewarded if you resisted temptation to enter the market. I didn't and I went down .10 early. I forced a few trades later before the market turned around 3. By that time, I was able to squeeze out a few cents; making the loss a little less.

Here are the results:

I need to do a better job of selecting stocks that have gapped. I didn't trade any of these at the open as I didn't do a good job of screening  for stocks (no excuses, but I'm still trying to relearn this platform), as well as the times when I should and should not trade. My persistence to trade when the stock as well as the stock market are both not providing me with the right setup will send me down the same road (Blown up account Blvd!!!) that many traders (revenge traders, new and inexperienced traders, and greedy traders etc) have gone....I don't want to be in their company!!!

Learn from my mistakes readers; as I will also do the same!!!!

Until tomorrow...........hopefully with a different song and story.... 

No comments:

Post a Comment