Recent content by Trader1234

Hey guys, Following yesterday's rough day, I decided to take the day off today and relax. Time to recuperate and enjoy myself with other things. I'll be back tonight to answer your posts. T

Trades 08/10 6 trades 0 wins 6 losses (-5$, -30$, -10$, -50$, -50$, -50$) Daily balance: -195$ YTD balance: -400$ This probably what it must feel like, being in a washing machine and spinned around... A bad day for me, not so much $$$ wise but more discipline wise. Overtraded...

2 things (1) The fact is that I'm more comfortable with the short side, and maybe even biased. Which of course hasn't helped me in the last few months of breaking one high after the other. Thinking about it, actually, the sentence above might be my biggest problem. The fact is that I...

Hey Lindq, I appreciate your input and honest effort to help. Don't get me wrong, I may sound "defensive" of my method but I'm only just trying to explain how I go about the trading day. You are right. The fact is that I'm more comfortable with the short side, and maybe even biased. Which...

Market thoughts for 8/10/03 The market is once again pushing against the important resistance level of 9670. Despite the downward gap yesterday, the index was able to reverse, indicating important strength. It close near the high just below resistance. Oscillators are bullish but...

Peter, Congrats on a great entry there. Your idea of implementing volume in your analysis the way you do is quite interesting. I saw your trading today, and even though it is easy to come after the fact and say that "I should've kept my position", during the day you are tempted to take it...

Hey guys, thanks for your comments. lindq You're right, I do have a bias for the day. This is good when you have a directional day, because you can keep your positions longer, but kills you on a sideways day (whipsaws) I consider myself a "trend-follower" and not a reversal trader, even...

Trades 07/10 2 trades 0 wins 2 losses (-100$) Daily balance: -100$ YTD balance: -205$ (see chart below for visual on trades) Trade 1: -50$ Entered short on LL at 9513 (09:46) even though I was expecting a retracement of the opening down gap. This trade was a mistake, and a...

Market thoughts for 7/10/03 According to my analysis, I am expecting further downmove in today's session. The market had a Narrow Range day yesterday, following the large expansion of Friday. I am looking to play the breakout from yesterday's range, taking advantage of the potential...

Trades 06/10 3 trades 0 wins 1 breakeven 2 losses (-105$) Daily balance: -105$ YTD balance: -105$ (see chart below for visual on trades) Trade 1: -5$ Entered short on LL at 9541 (09:40), since I was expecting a down market. Further, the indeces gapped up at open and closed...

Market thoughts for 6/10/03 Dow had a wide range day on Friday, and attempted to break the high at 9680, but was not able to hold on to its profits. The reversal at this resistance level is significant, and could be potentially very bearish. (Double top) Our oscillators remain bullish on...

Hey guys, thank you for your comments! Lindq: I have chosen futures market, and specifically YM for two main reasons: 1) The Dow is one of the markets I have analyzed and know quite well, both on the longer term moves as well as the intra/inter-day fluctuations. 2) My "study" time...

Pete, I like your journal, and to be honest, looking at your positive progress through it was a motivation to start mine. We have similar styles of trading and I think we can learn from each other. Regarding your question above, this has been something that puzzles me as well: buying on...

In the past I let it bounce - sometime back to net loser, but I realized that there is a great truth in the statement: "No one ever went broke taking profits." My thoughts exactly, but also one of the things that puzzle me greatly: finding the right balance between taking your...

Hey dbTrader, First of all, thank you for inaugurating my journal! :) As regards to your comment, I have a question for you, which has puzzled me for some time now: Which is a stronger emotion: Fear of Loss, or Fear of Loss of Profit (a profitable move)? The answer is, it's always a...