OH that was interesting... lost 6 pts. Have to drop off the ferrari keys and get back in the VW bug to start making those up!
Have to write that in my book! I think I made the same error today... have to stub my toe a time or two more than most, but I do learn. At least, I hope I do!
I was thinking that too when I woke up this AM, how easy it is to not see that another trade, and another will just keep coming along. Then proceeded to make some versions of same errors. Guess I paid for the error... breath it in deep (vs denial). What you say helps. Thanks Specterx. Oone of the benefits for me in doing this work is a growing awareness of that process of thinking, analyzing and experiementing. Working at trading, and the peculiar way it makes you think... The neuropsych person said I had some difficulty in 'encoding' new information. I'm just begining to actually know when my thinking gets mushy... at least that's how it feels when I'm trying to fit in a new idea, or just juggling to many ideas. I remember I didn't used to have that... 'mush'. Ideas just came in differently. Monday I have my first meeting with a psychologist who will start a cognitive training program for me. Think one of the things I will ask for help for is exactly that sorting thru things, to be left with the good stuff! To 'unmush'?
OH! And I may not trade Monday... maybe just the open? will be in Phx most of the day. Not quiting after one day of losses:eek:
Homework after-the-fact analysis for class.... I actually had looked at this early on in the day, and it kind of did it.
"SHOULD" have exited !! AND Entered SHORT !!! especially after a strong reversal at a known resistance as you see on the chart. Also, put a FCX or EUR chart on the side. Market has been tracking EUR very closely lately. You payed 6 pts to the market to tell you what direction its going and then you did not use the information. much like buying candy and then throwing it in a dumpster. Not mocking you. but making a big point - especially for intraday scalper. I still recommend trying FCX/POT/AAPL/BA/MON/BIDU for that matter just stocks for beginners. Trust me. you will get caught in fake outs/ ranges more often in futures than in Stocks. Also, if you want to trade futures, start with YM- its easier to manage due to less leverage and you can trade the same strategies in YM as you do in ES.
I've done that reversal thing before. Just wasn't with it today. Maybe it was the flu? Oh, that's not mocking. Appreciate hearing it with constructive advice. Thanks jokepie, you are exactly right. Have heard about it tracking the EUR, will have to look at that...