after i done with GRRF. my gain affected me. i did not take a rest, let my mind clear. I started to shift my focus on crude oil, a mistake here is: afte this trade, I become bullish subconciously, so later three trades of four are LONG, while not short sale. At that time it dropped to 69.11, I saw it was bouncing, I bought it there, then stopped out at 68.95, reversed my position at 68.97 (shorted it), covered it at 68.7, the drop exceeded normal daily drop range, so I covered it there. The mistake here is I just recouped my loss plus a little gain. Then my another rule kicked in"when the market drop a lot, I should not go short blindly, so I did not think about short sale from there". After it dropped to 67.6, bounced to 67.8, bought it again, stopped out at 67.6, it continued to drop to 67.37, I waited the reversal, I bought it at 67.8 again in the bounce, sold it at 68.02 Then I sat there think to do another trade. My mind popped up a warning: you already did 5 trades, do you want to break your own rule. So I painfully shut down my computer. made almost nothing from crude oil, while oil dropped a lot and trended very well!
toke off this monday, got good time fom Niagra Falls. saw Crude was dropping in the pre-market, thought about short sale. felt my mode is not in trading yet. did short it, stopped out with minor loss. I found I was trading yesterday's market, the market actually was bouncing, when my mind did not sychronize with the market, felt better off the market. done today. thought to buy HURN at 17.8, and AXL in the opening, just felt my mode was not right, did not do anything. hope tomrrow I am able to forget the "no work" joy, focus on my trading
still did not feel right. bought DAN at 5.0, and SQNM at 5.0 too, they all stuck there, no high fly. tried to short AXL at 7.09, but no share for me to short. did not cleaned DAN and SQNM yet. saw crude fly, but I did not buy it, just let it fly, I feel I was kind of mody this morning. shut down my computer around 11:30am.
killed SQNM, not good stuff, keep riding DAN. AIG is fun, bought it at 29.80, sold it at 34.8. done, get to rest a while.
just turned on my computer, did nothing after AIG trade. thought to buy ANIK, but it seems to me it is a pump and dump. should get CAR at 10.8, run nicely.
realized ANIK is a pump and dump. shorted it at 6.9, covered it at 6.5, no too much. but good breakdown
I was reviewing Kevin Haggerty's new five-week day-trading course this weekend. I never entered any formal training course, most learned are from the tradional texbooks or web dicussions. after friday's closing, my wife and my two sons invited me for swimming, I was shocked to find how much progress my two sons (one is 7yrs.old, another is 3.5yrs.old) advanced in swimming skills. last summer all those two guys could not swim, and even afraid of swimming. my elderly one can jump into the water, swim in most popular styles withou any difficult, a lady near me exclaimed "look a dolphin" to her own son similar to my son's age while he was still learning basic simming skills with lifejacket on, I was shocked too. even my little 3.5yrs old son can directly jump into water and swim one lap, I was shocked to discover I was behind my two sons in my swimming skills. I grew up in countryside in china, I started to be able to swim when I was 7yrs old, since I lived in a delta (there are lots of natural water areas rivers/lakes), I swimmed almost everyday in summer. I often proud of myself my swimming ability before my wife. when my wife said my two sons need swimming lessons, I said they do not need training, that is a natural thing. but my wife insisted, she toke them for formal training, after I saw the difference, I realized I made a serious mistake: I swimmed 30+years, but my swimming skill level is still at the beginner's level. to trading, I can draw a similar conclusion: even I trade years, but I suspect my trading skills level maybe still at amteur level! so I reviewed Kevin Haggerty's lessons. one reason is to exam myself, look how far I progress, where I should enhance further. I found my market sense or tape reading skills are good, but not so good. my market selection skills are in the right direction. my execution skills/psychology are in good status. the problems with me or the weak spots are: I did not line those skills up well, for example, I selected a right market, but may execute not well or tape read not well.
sorry to clarify a little bit here. I selected a right market, then has no patience, ignore my tape reading skills, enter a trade without using tape reading confirmation. I do not do it often since I realized this mistake long-time ago, but occasionally I do did it. just use it as an example, I did not line my trading skills up very well. another example is: like last week, I saw market drop to a very sloid support (a "L", big drop then a line) on last Monday, my tape reading tells me it is a breakup trade or up trend swing trade, but since my psycholgy was in"no work joy", I should immediately adjust my psycholgy from "no work joy" to "work status", crude shooted nicely almost 7points from last tuesday, hit year's new high!