Another positive day. Held the first SPY short a bit too long. Trading on Island without quotes is really quite different. I am trying to be more patient, and perhaps succeeding. I can credit that to someone from this board who decided to lend a hand a while back and give me a few days guidance via mIRC. Folks, it sometimes doesn't take much to get the ship righted. I needed someone to lean on me during the trades to stay calm. That has been a big factor in whatever improvement I have made. We will see how my trading plays out. Just trying to keep from slipping off the slippery log. Here are the trades.
Two trades today, both SPY, both on ISLD without ISLD quotes. I am doing my part to defeat the dratted AMEX Specialist and their lapdog SEC lackeys. Trading was slow today for the most part so after the good trade in the morning, I stood down until after the Fed announcement. I hesitated and missed a good SPY long around 14:30. The pullback I did take was a precursor to the big EOD meltdown. Gotta keep telling myself "you ain't gonna win em all". But, to paraphrase Inandlong, "you gotta be in to win". Here are the trades.
Red day today, but not huge damage. I kind of regresssed to my old tricks of missing the good trades and catching the bad ones. I am going to have to find a new trading vehicle. The SPYs are tough enough without the hassle of no ISLD quotes. I am not very interested in routing elsewhere. So... I need something else to trade. I guess futures are a candidate, but I wanted a little more seasoning before going whole hog in the futures. We'll see what we can come up with. Here are the trades.
Uuggg... Was up then gave it back... But only one trade irks me to no end. Here are the charts that tell the tale.
I see you used Snagit text, you are improving with the power of hind sight anybody could point out that was double bottom, avg cross over blah, blah but realistically you just need to stick to your stop until you are sick of it.
I haven't been doing much outside of opening orders. I am still puzzling about trying to figure out how to trade without the QQQ and SPY. I will soon get it figured out and resume trading after the opening. Folks.. it is getting on to time for me to get busy trading or get busy finding another job. So I intend to really concentrate on making good trades, and taking the good trades I see. No more bailing early.. hesitating.. getting all wound up over losing trades... etc etc etc. I have challanged myself to get this done.
Wed Oct 2. Did ok today. Big news was, I was somewhat calm. Bad news, I was taking quick profits again. I left considerable money on the table. I need the good profits to offset the "Bear Sterns" trades. Note ADBE at 13:54 CDT. So, I have yet another dragon to slay, the "take the money quick" syndrome. All in all, I believe I am doing a bit better.
Another not for profit endeavor. On the good side, I stuck with my trades til it was time to leave. Even held the second NVLS trade foreevveerrrr.... until I could get something out of it. I left a little bit on the table, but all in all I did about as good as could be done with that trade. Bad side... the market was not in a giving mood unless one was a professional fader. Had 2 trades that there was just nothing there. BUT.. I did hold them a proper amount of time, and gave them a chance. I feel like I am managing things just a wee bit better right now.