This is the kind of move no one sees coming. Its a bull market, technicals are bullish, econ data is bullish, fed considering neutral bias, etc. And we haven't seen a down day like this in 6 months. A day like this takes even the bears by surprise. Unless we've changed from bull to bear market (not likely) these are the kind of days that it pays to fade if your a position trader. The only thing you have to be careful about is averaging down to the point where your position is larger than you can be comfortable with.
You'll come back MMT, don't worry. Remember the day you were down like 17k with a much smaller account.
MMT, sorry to hear about your loss. But I'm sure, it hardly made a scratch on your account. Keep 'em coming, it's been one of the most entertaining journals in a while Better luck tomorrow, Schaefer
DJIA (underlying of YM) is putting in an outside day on the daily. In this case, with new intraday high and taking out 12/27/06 low, it COULD be a key reversal. Depends on close. Other underlying indexes are not as ominus.
is this log over? I dont think 1 bad trade should end a journal. Besides, I want to see you post winners and see all the ppl say you were papertrading. u win == papertrading u lose == u sux. can you taste the hypocrisy?
When this idiot got smoked the other day I actually accused him of papertrading.... Go back and read the way this moron posts......he has an extremely big mouth......thats why he gets ripped on here.....if he wasnt such a loudmouth and braggart (about what I have no idea) then people wouldnt trash him.....he gets what he deserves....
It didnt have to be..the guy had a good gameplan.....but once he pulled out his stop he was screwed.....got torched on the trade....