Man you are not kidding! Could have kept one in for the entire move PEACE and good trading Bronks, Publias BTW; There is always tommorrow!
Be careful using that laser-like tool we call 20-20 hindsight. Sure, after the day is over the 3/5min chart shows a gorgeous trend, and anyone would be downright foolish to buck it. Ahh, but while it's happening, depending on your system, it could easily look like a rally to resistance, not an unbuckable trend. I love charts, but they frequently fool us after the fact, as they look so bloody easy, "all I had to do was get it there and hold til there...." If only it were that simple. The short answer Bronks, don't be too hard on yourself.
Hey guys-- I'm just sitting here chuckling to myself about how simply complex the market is. The more things you strive to learn, the more layers of the onion is discovered. I think it was Darkhorse who said something about monkey wrenches. I have to agree. Everytime I try to get with the program, a monkey wrench falls from the sky and throws me for a loop or two. Monkey wrenches marching in step (ala Pink Floyd movie) protecting Mr. Market from any dastardly traders now fill my dreams. He-he... I've never been in a position where so much hard work, sweat, tears and money, can account for absolutely nothing, for no other reason then not being good at the game. Kinda takes a little out of you at times. Introspective hour is over. Tomorrow brings another day (gotta slay a few monkey wrenches ).
Krebs-- Actually, that's what I originally meant. But, in keeping with my trading today, I got it backwards. <G>
Bronks, you may find value in this or maybe not. I like to have some idea of what may happen in the next session. Like support and resistance and buy and sell levels. Marty Schwartz, author of "Pit Bull" and very successful S&P trader says he has made millions (yes millions) by buying the dips when the market is above the 10 day EMA and selling the rallies when the market is below the 10 EMA. And that is all he says he does. Period. Hell... I am rambling. Sorry... here is a link I find useful. http://www.dacharts.com/~charts/2002-08-14/LSS_Aug_14_ES If you look at it notice where the last "buy low" handle was today. 876 right? Check and see where the ESU2 turned around... right at 876 huh? Well 875.75 to be exact. Take a look at this when you get time at night and see how often the market turns on these handles. You'll be suprised at how often it happens. If after looking it over maybe we can talk about it more if you like. Good luck ~EC PS The woman that makes that post takes 2 trades a day... one in the morning and one in the afternoon. At the most.