Chronicles of an Idiot

To trade 10 contracts, you would need $50,000 and I would need $70,000. I don't know where the $58,000 comes from.

Probably to lull myself into a false sense of security.

 

Sorry. Thought you meant that once you reach the $30K level, the rules changed from that point on . Nevermind.

 

Now that you mention it, I can see where the ambiguity comes from. Sorry.

 

Stop 980

THis is NOT a divergence based trade. It is described earlier in the journal.

 

This was a double top with lower high on stoch and MACD. Basically a little dangerous right after open...

 

Sorry. Just had a computer burp. Had to reboot.

I will try these HOTT trades from time to time. It is an attempt to catch a trend. You are right this was not a good trade. It had nothing to do with divergence or the Double Top.

My filter signaled trouble after the second run up. Had I bee able to see it, I would have gotten out. Computer down. Idiotic.

I will get back to normal now.

TradeStation has just let me know that it was there fault that I was burping. I am going to charge them for my loss

 

Stopped out -1.25

In a hole early this week.

 

Don't feel bad, in the grand scheme catching trends can be very profitable so you have to take losers once in a while.


You are right about this trade (the double top), it was difficult and dangerous, and if you are moving the stop to b/e quite quickly (like me) you would have gotten stopped out. But was good for 4 pts according to a formula i'm testing, and thats exactly what happened.

 

Thanks. I don't feel bad. Part of the game.

Some will, some won't, so what, next.

 

In case anybody is wondering....there was a nice buy on the M1 chart. Two consecutive signals. I got a mixed signal on my filter and sat it out. Would have only looked for 2 on this.

I am thinking/hoping price will make it down to 972 and then back up.