Having a really good day with the GDX SHORT as per my TA. Gold and precious metals taking a dump recently. I expect it to ACCELERATE to the downside after the Holiday. Finally added to my CENX LONG position where I had a weak position with wide stop. Now added full 1% risk to this with the following: CENX = LONG @ $15.83. Stop loss just above prior entry of $15.11. This makes my prior entry a break even trade if hit and this is the only real risk I am taking. BAC taking off today as well. Looking for a price to enter but I do hate chasing. So far I have been correct on my TA on nearly all of my picks to date on this Journal. I feel my analysis is going well. Just need to maximize more profit. Today so far up over 1% just with these picks in the Journal.
Well I had a great day today. My account is UP OVER 2.5% just on the 3 trades listed here. The market did almost exactly as expected. Over the weekend I gave detailed analysis of the charts and showed why I think Financials, all commodities except precious metals, and transports were all going to be strong as money rotates into them. The weakest sectors should be tech and semis in general. That was EXACTLY what happened today and the 2 trades I took today accounted for nearly 50% of my gain for the day. GDX SHORT made up for the rest. So, it appears that I have been mostly making this Journal for myself since no one seems interested in it and therefore I have decided to close it down. Trade what you see, Eganon
Its a holiday EG, nobody's around. This is a GREAT journal. I have spent a lot of time studying everything you wrote and the corresponding charts. I suspect others here have too, they just don't respond. Your in depth T/A is a great learning tool real time. An asset to this site.
....And when ya think about it - if history is any guide - its the sh*tty journals that get all the posts. Look at The Surf Report.... it had like 200 pages.... and didn't say anything. Granted I know what kind of watch to buy if I ever completely loose my my mind, get all ghetto, and utterly stupid with my money... but other than that... no educational material. Or look at that girl last week that was gonna turn 10K into 100K.... she got 4 pages in a day. And then disappeared. So take it as a compliment that no one is posting on your journal. I do. No one ever responds to my incredible lol stock picks. I think its all just a bunch of Europeans here trading Forex with 3000 to 1 leverage on a $2000 account. They need to go to T2Win. What a lousy forum that is. Anyway.... I tried. Quality is hard to find. I know talent when I see it. PM me when its time to close the gold short lol.... cause I bought a few dozen puts on GDX.
I appreciate what you are saying. I think that I started this Journal to keep me looking for stocks all the time. But I feel like I am just talking to the walls. However, I got what I wanted out of it from a stock picking routine. I have a bit more of a routine going and will continue that on my own. I may still post occasionally here but I think its not stimulating the TA discussion I was expecting. No one seems interested so what is the point? For now my trades remain and I expect these to be good longer term multi week holds. Because I trade on a longer time frame than many I use to only review trades and charts every other day. I think I have come to the realization I am far more productive looking at the charts daily so I will do that from now on.
I think its a great journal. Lots of work, it seems to post so much detail. It's my belief that you are a good trader that can see and handle the daily flow of sectors and stocks and execute to profit. It's very probable that it is "let him be without disruption" Car wrecks attract slow, heavy traffic.
Ain't that the truth!! As soon as you go into any detail, the viewers realize that TA requires study and work. So they look elsewhere for a get-rich-quick thread.
This is probably the most TRUTHFUL statement made on ET in a long time. I didnt get here by just reading a couple web sites for a few hours. I "spent" tens of thousands of dollars in "Tuition" to the Market University while I learned this over a period of about 4 or more years. And I get better and better each year. My trading NOW is even better than only 6 months ago. I just figured that pointing out some pearls would help someone learn a few things that took me years to learn. Much of it was learned on my own and much was also taught to me by various websites and articles and books. But in the end I had to come up with a method that works for me. But YES,...LOTS of work to get to be able to review ANY chart in 30 sec or less and see what i see.