On a good note... My first day of trading, and I'm up $60 dollars. I made 2 bad trade though that actually knocked me down to -70 dollars. The first one, cost me $10, because I had to call tech support because they had my margin settings screwed, and they asked me to test it, so that cost me $10. The other, I just sold at a dumb spot and I mis-interpreted my mentor, so my bad, but I got it right on the next trade. I didn't get filled at the very top where I wanted to short, because I had a limit order... so I now know to use Market orders while trading, and keep limit orders for taking profit and such. But again... I ended the day up $60 dollars.. after shorting at a lower area, so that put a smile on my face. No emotions... just fun. So I'm looking forward to all next week.... and for the record, I really hate school now.
lol I will believe it when I see it.. no way they let this market sell... unless of course "this time is different"
My mentor believes the market will go down as well. I don't know, because I'm not good enough as of yet to judge these things, but after a good move up, there usually must be a day where some selling will occur, or profit taking.
Glad you had a good day of live trading JM. My only position was short at 581 that got stopped out at break even. Ym came within 5 points of my cover point but I really was not going to trade today so I was playing an all or nothing.
Ah. I had a few good opprotunities today to trade. I actually skipped my schools "pep rally", to get home, and I knew CQG was finally set-up. I will have to wait to use TradeMaven. CQG isn't that bad, but I made several errors, and forgot to exit some positions, I actually had a long position in for around 5 minutes thinking I had closed it. So I need to get TradeMaven as soon as I can to avoid costly and avoidable mistakes. I can't wait till Monday.... I'm excited to trade some more.
Well I guess you made some good trades if it moved as you expected. Why not just make yourself available to what ever the market is offering, and try not to predict an outcome. So if the market keeps moving higher are you going to trade against the trend and keep shorting.
YM has spent 80% of its time in a 250 point range over the last 4 months. I have excluded the occasional spikes down, the biggest one being the London bombings in July. The Dow industrials is close to the same place it was 9 months ago, its close to the same place it was 21 months ago. 10450 is an area over the past 21 months were alot of activity occurs. This has become a scalpers environment. Earnings season is upon us and I am looking forward to some volatility.