Subscribe Feed (RSS)Nasty whipsaw day
November 16th, 2005 by eyal | Filed under Day Trading, General rant. |
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Haven’t got much time today (drowning in work in my day job) but it will be really useful to analyse today’s trades so I may do it later on. One thing is clear to me even before I look at final charts and that is that I needed to manage my stops more closely. I did move some of them so didn’t full R’s on all of them but I could have managed them better. I should have evaluated general sentiment and market action better but that’s something I recognize as an area where I just don’t have enough knowledge/experience at this point.
Anyways, trades today: MRX, TGT, AEOS, SPLS, CDNS, A
Only one(!) winner in what was a challenging day: MRX which saved grace and clawed back my P&L to a -2R.
Welcome to the world of losses !
Although I was not trading today (still got that damn cold) I did fire up in demo mode and looked to play. However, Trader Mike made sure I kept my eye on the market (I was watching $COMPX) and as a result I kept out all day. That was a little low volume upswing at lunchtime that was ready to sucker you in, then the big drop came along at 2pm. Nasty.
Same again tomorrow ?
haha.. had plenty of losses. If you read back I’ve been struggling with day trading for a while now. Typically my swing trading pays for my day trading losses. Sad huh?
You chose a good time to be away from the markets. I don’t have a clear set of rules for myself of when to avoid trading all together.. something I’ll have to think about and research.
If tomorrow morning shapes up similarily I will have to start thinking of fading the dummies :)