This has been by far the most difficult week for trading a long time. Inside days are usually tough, but with no real direction from the markets, stocks that should trend (in either direction) based on their open from the previous day's close. I had my share of ups and downs this week-I'm just glad I got out this week with a gain.
SPY gapped up from yesterday's close, but it was still inside yesterday's range. My bias was neutral; I watched to see how stocks moved in relation to the market. I did eight trades today. I was down big early in the trading session on my first four trades. I wanted to call it quits, but I knew stocks would be out there that I could target., but I was able to get in tune with the market and run off four consecutive profitable trades.
Here are my results:
I got scared in this trade. I wanted to lock a quick profit for the day. I have to let fear not get the best of me while I am trading. I cost myself a few more pennies because of it.
Hopefully next week brings better trading conditions. I'm out to enjoy my weekend. Do likewise folks!!