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A 70k bet that I can't make a 50% gain in 2009
- Thread starter geez
- Start date
Quote from geez:
Thanks B-edges,
I've had a great run the last 4 weeks. I can't complain one bit about a pullback in the account.
I just keep taking the setups and I expect the winning average to sneak back to the 50% range.
I will let you in on a little Geez secret:
I played sports all through college (paid for my education). I played pro for 1 year. I know what it is like to be on a monster run, I also know what it's like to think every move you make on the field was a complete and utter mistake.
But, at the end of the year, the numbers seem to fit perfect to what I tried to do. I think trading is very similar. There are some great win streaks, followed by some weeks that seem like every trade you enter, the market turns as soon as you get in. I won't tell you what sport I played (No Jeg, I wasn't a cheerleader), but I think it emulates trading perfectly. You just have to ride the ebb and flow trading, and look to the end result.
I am very happy where the account is right now 5 months into the year, and that's all that really counts. Not what happened today, or yesterday, or last week...but the overall result. That's what I stay focused on and continue to stay focused on.
Plus wine always helps!........G
I love how geez humors me with these little surprises. I am just reading along and boom, easter egg. haha!
Quote from gotta_trade:
Hi Geez,
I attached a chart of your BCS trade.
Can you please describe you thought process, (trade pattern), for entering this trade?
Thank you,
gotta_trade
Sure,
BCS is extended on the daily chart and has a big gap up. After the first rally from the open, it retraces almost 100% from 9:50-10:00 (first sign of weakening). Then it puts in a small rally, and as soon as it breaks a prior bars low (10:05 bar breaks under the 10:00 bar) I short it.
The key to this was how extended it was, looking for any weakness to begin the profit taking.
Pretty simple...and thats what I like. (Stopped for a loss)
Let me know if that hepls-G
Quote from gotta_trade:
Hi Geez,
I attached a chart of RIMM.
Can you please describe your though process for entering this trade?
I truly appreciate your help!
Thanks,
gotta_trade
Sure,
I had RIMM on a long watch from the open because it gapped above the prior day (a red day) and was in an uptrend all day, along with the indexes.
1pm RIMM sells off, but by 1:20 it fully retraces that sell off (sign of strength)
1:40 setups up a higher low from the previous low from 1:05.
I BUY over the 1:40 bar and place a stop below it, looking for a 2 to1 reward.
Once again, it was the strength in the gap, the indexes and the overall uptrend on the 5 min chart that made me take this setup.
(Nice charts by the way!)-Hope that helps...G