ok Today was not a good day, not only did I not make any money I passed out after my last short, and missed out on the market drop. Slept for like 3 hours. Who does this? Who sleeps for 3 hours during the day? I think this pretty much shows me that, a) I shouldn't be wasting any time anymore doing any trades unless they are 110% money like usual. b) I should be standing when trading. This is about the 50th time I passed out after a trade. Staring at these numbers is like staring at sheeps slowly... slowly.. doze off. The good news is, my short methology is still tight. Things to focus on 1) don't trade such volumeless stocks such as CRDN // correction, the CRDN was just a bad trade, wasn't following the system signals. 2) Stick to the system. 3) trading in between 11:00 and 2:00 is trading with retards who don't have money to go out for lunch. Thats all I think we should enter a new era , I was shorting 5-10k of TWX today instantly, It was very neat for a NYSE stock. I was real confident as well, so no worries at ALL. Markets going to be dropping tomorrow, I'm going to be shorting the shit out of it.
Note: Definately going to continue posting trades this whole week on shorts, until we post up a very nicely profitable SHORT TRADE. 1) We are going to hammer this shit , until it WORKS! 2) Hope to do a 10k shares soon, Thats my goal for this year. I want to be a big swinging.... rooster too.
Regardless of how good a short setup is setup The direction of an equity is based on sentiment, Sentiments change on the whim along with market direction. A short setup is only a setup when the perfect storm arrives. A short setup is questionable when we don't have everything in sync. At first I started to think of doubling up (because I was scaling in ), then I looked at my market indiciator which just pointed up a few hours ago, Then decided to scale out and remove all positions before it hit my stop $71.00 regardless of how good the short setup was. R/R as well as price action. I would have been long today, except was playing around with the short broker, got fixed with short bias I'm back biasless now. Came out with an insignificant lost, but was a good execution. Markets reverse, thats life! Looking to go long now, should have done that @ 11:30 really. $COMPQ reversed around 1:00 which was around when I closed up short positions. won't be putting on any more positions today. markets confused today.
VRSN was a good execution. I shorted very large on that with a tight stop. I actually thought TODAY was fed day, doh, Tomorrows fed day. The P/L thread makes my journal look pitiful but this is low level swing trading for you, have to enter multi times before it rolls or scratch. Theres pretty much no way I can compete on consistency with swing trading against scalping. Maybe its time for me to develop something where we look for 20 cent gains and 5 cent stops. How about a strategy where we can trade sideway markets, Whos got some suggestions? (not strategies)