1053 CST Out at 111 07 for 3 tick profit. Gee whiz. What a day. On an ordinary day I would have a target of 111 00 to 111 03. I would look to buy around 111 00, keeping in mind that 110 26 is certainly possible. Today isn't an ordinary day, so don't give a lot of weight to the above.
Days like today make me very glad that I don't depend on trading for my livelihood. Considering that I just wasted 3 hours and 40 minutes of my life, it makes me think a lot of things about priorities in life.
Try a new approach! I trade exclusively for a living and rarely trade ZB more than once or twice a day. Take a few days off once in a while, today was a perfect day to fish or golf instead. Happy Holidays! el surdo
I can not agree more. The only setback is that you are likely going to miss some very good trading opportunities . But there will be still plenty of them left!
I hope someone made decent money on my advice. The only thing I would do if I were still in is to take half off and hold for lower prior to buying.
Thanks Surdo and dhpar. Surdo, I'd love to pick your brain, but I don't have the time at the moment. Keep posting. Maybe some of the once or twice a day perspective will rub off on me. I've hinted at it, but I haven't really mentioned it, as this is a journal about trading. Briefly I had the scare of my life last year in October. Stomach related, a week in the hospital. That type of experience changes one's perspective. That plus losing 30 pounds, going back down to senior in high school weight. So, to make a long story short, for my family, for my health, and my peace of mind, I need to get away from day trading. I've been experimenting with finding the ideal entry from 0735 to 0835. That might be a good compromise. The idea being to enter and exit all within that hour. Based on some preliminary studies, it does appear achievable. I'd still prefer to perfect your technique though.
Out at break even , No Loss No Gain- Reversed position Short at 111-08 out at 110-30 . Net Profit: 10 ticks Thanks J.P.
hmm . mind ask you what changed your view? Especially considering that initially you went in long on bearish market...
J.P 's call. Better yet, pick up some books about the market and educate yourself, then come back and ask better questions or ask J.P. , he's the only one that knows what he's doing. Again, thanks for the Call J.P.