I cant figure out the YM chart so made 2 trades; made a few points. Then I shorted DOW (the stock not the YM near its low and watched my profits go bye bye. I was wishing I was in AMD today. I like the company. But was 'scared' about getting in a stock that was 'overbought'; lol whoever came up with that term. The YM has been in a range for awhile when it breaks it should break hard.
Attempting to let small winners ride in chop turned out pretty ugly. Missed the big moves as well. Brutal!
ya its tough to figure where the trend is in this market (past few days). I got distracted this morning; but a few times I was going to place a trade and the market would have moved against me; if it wernt for my distractions I would be sitting in the red on more YM trades. But thankfully the DOW trade did me the favor instead
Does anyone here only trade during certain times of day? I've found that trading right after market open is a crap shoot for me. Waiting until a solid high and low for the day have been established seems to give me a better feel for the day's direction. Plus I get better looking bumps to draw trend lines against. Yet skipping mornings also seems to leave out lots of action. It seems like lots of folks trade *only* in the morning and stop around lunch.