tampa's "short skirt" trades...

Discussion in 'Journals' started by tampa, Sep 28, 2002.

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  1. m_c_a98

    m_c_a98

    Make the system give you precise entry numbers. the discretion will be out of your hands. You'll either trade the system or you won't.
     
    #51     Sep 30, 2002
  2. tampa

    tampa

    I guess I wasn't clear enough on that point. I have no problem with taking trades, my problem is letting them playout. I am quick to take a loss, but equally quick to take a profit. Thus this "public" exercise.

    As for the possible trades this morning - it's just one of those things. Sure I wish that I had been wild and foolish - but I did what I thought was right - right for me.

    No regrets. I did it my way.
     
    #52     Sep 30, 2002
  3. tampa

    tampa

    I know what you are saying, and don't argue with it. But for me this is more of a method, or style than a system.

    I am not displeased. Sure, it would have been nice to take the AM trades, but it goes against everything that I know. From my observations, the chances of a follow through on an open like that are not that good. You win some, and you lose some:)
     
    #53     Sep 30, 2002
  4. Quah

    Quah

    Gotcha. That's the best way, IMO.
     
    #54     Sep 30, 2002
  5. m_c_a98

    m_c_a98

    comprendo :)
     
    #55     Sep 30, 2002
  6. tampa

    tampa

    Hmmmm...O.K., this is getting kind of embarrassing. There was yet another bull flag at 1:52 @813. Again I passed because it just didn’t look that strong, and came just after testing the high of the
    day. It ran for 3+ points without me.

    Oh FUDGE!

    Still another bull flag at 2:11 @816.5

    I took this one, and was stopped out for a 2 ½ point loss.

    What can I say?
     
    #56     Sep 30, 2002
  7. Brandonf

    Brandonf Sponsor

    What can I say?

    The very hardest thing about having a system is following it. You have to trade it without letting your own bias get in the way, or you might as well not trade it at all.

    Brandon
     
    #57     Sep 30, 2002
  8. tampa

    tampa

    Took a bear flag at 2:46 @811.5 Stopped out for a 3 point loss.

    Now this one troubles me. Why? Well it was pushing – in fact it went against my “better judgment”. A clear trend in the one-minute chart, but no real trend in the 5 or the 15. In other words congestion, chop, or what ever you want to call it.

    Geesh...and it’s my birthday.
     
    #58     Sep 30, 2002
  9. antorl

    antorl

    My best wishes Tampa from Italy
    AUGURI!!! :)

    (and good luck!)
     
    #59     Sep 30, 2002
  10. tampa

    tampa

    Technically a bull flag at 3:04 – but it failed to retrace back to the 20EMA. So no trade.

    Will I take the next set up? No. Why not?

    Tick readings of +1200, and prices near the 60 minute 20EMA.

    Am I a happy camper? Yes and no.

    The first trade (a 2 ½ point loss) was played properly – hey, they don’t all work. The second trade ( a 3 point loss) was more of a trading on hope situation. I pushed my luck, and got my hand slapped.

    So what’s the bottom line here?

    Well, I basically did what I wanted to do, and that is give the trade the time it needs without second guessing it.

    BTW – the trade that I announced that I would not take finally set up at 3:16, and would have worked.- - but it was risky.

    So I’m not sure what the real bottom line is – I have to think about this.
     
    #60     Sep 30, 2002
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