Diary of a very bad trader!

Discussion in 'Journals' started by Brianharvey, Nov 8, 2013.

  1. dbphoenix

    dbphoenix

    And that's a large part of the problem, if not the largest: you have not yet defined the difference between up and down. Without that, MAs and the DOM and stops aren't going to help you. At the time you posted your short, price was falling. But then a few minutes later it reversed. Then it went sideways. Then it began to rise again. Did you recognize any of this in real time? If not, then however tight or loose your stops are -- or even whether or not you use them at all -- is not your primary concern. Unless and until you understand what it is you're looking at, you aren't going to know what to do with it.
     
    #21     Nov 8, 2013
  2. Good job..you're moving into market wizard territory
     
    #22     Nov 8, 2013
  3. I thought so!! Glad to have it confirmed.
     
    #23     Nov 8, 2013

  4. One of the best posts I've read in a long time!!!:)
     
    #24     Nov 8, 2013
  5. dbphoenix

    dbphoenix

    But then ten minutes later it stopped falling and you didn't know what to do about it, so you handed the reins to the market and let it stop you out -- i.e., take your money -- instead of exiting your trade for a small profit.
     
    #25     Nov 8, 2013
  6. short 94.50
     
    #26     Nov 8, 2013
  7. No stop, but if price goes up, i'll exit (usually stop would be at 94.64 but taking advice)
     
    #27     Nov 8, 2013
  8. dom993

    dom993

    You are trading after the RTH close on a Friday ... seriously ?!
     
    #28     Nov 8, 2013
  9. dbphoenix

    dbphoenix

    And how are you defining "up"?
     
    #29     Nov 8, 2013
  10. price has stopped falling, so out here at 94.47 for +3
     
    #30     Nov 8, 2013