Today... -.0100 points in soybeans -.09 points in sugar +6.5 points in mini-gold finished the day with small gain +...was up big at one time until soy and sugar trades!!!!...missed the best soy and sugar trades and entered again...too late!! ...learning something about Gold...maybe that is my 'zone'...INow
The action in Beans was tough today Incy. Its hard to trade those violent straight down/straight up/straight back down moves.
yea, I was soooo close to pulling the trigger at 9.3500 but did not!!!!then pulled at 9.2625 and just when reverse up started...ugh.. sugar...sold at 19.45 and then bought at 19.54 only to later head down to 19.30.... oh well, at least finished up overall for the day and had a great Gold trading day...and...at least can come back on Monday to trade another day
+8.7 points trading mini-Gold this week. Of course, was drowned out by the other losses. I think I found my 'focus' contract...very interesting. Wondering right now on Friday afternoon where I would be by next Friday afternoon if I look at nothing but Gold charts this weekend and traded nothing but Gold futures next week...massive focus. Interesting...honestly, would have never thought Gold could be it...much less 'mini-Gold' for now. Of course with the view to scale up to 2-3 at most mini-Gold contracts and then just trade the large Comex Gold...very interesting
Let me save you from this lesson getting more expensive (as it did for me many times): If you hesitate to put on a trade when you see the setup, be careful about chasing more than a wee bit. Much better to wait for the next setup. This is where having a buy or sell stop order in place in advance is helpful. You can't hesitate because price action places you in the trade automatically and you almost always get a few ticks move in your favor right away.
He hesitates because he is unsure, he is unsure because he is unprepared, he is unprepared because his attention is all over the place. His attention is all over the place because he chooses not to really focus. Maybe next week will be different but I am not going to hold my 'breath'