Well I guess this is the kind of stuff I have to get used to after labor day.(moving markets that is) sat most of this one out, thinking it should reverse soon. Volume should have been a clue it was for real. Anyways, no harm in sitting it out. Looking for a 10AM blowoff reversal.
Baggerlords Journal
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Yeah I check my news calendar every morning, but forgot about it today. Can't be doing that too often. Had an excellent morning, no specifics but the comeback is chugging along nicely. I've made some great improvements since my crash n' burn. Yesterday I reread some of the Stochastic Indicator thread and realized I just didn't get what was being talked about before. The stuff there really helped me out today. It is helping me to be more confident in entries and is really letting me see how simple market action really is. It is all sequences. I'm also greatly improving my ability to stay in winning trades. My advice is if it doesn't make any sense to you now, keep trading however you trade and periodically look back at it. Get away from seeing it as a mechanical system. My other advice is to be careful taking advice from me. Be back this afternoon. (boss is gone so working my own schedule, very nice)
Not a bad day today, finished up about $100. I am really starting to develope confidence in my exit tecniques, still jumping the gun, would have made a few hundred more if I stuck to my system. Learned an important lesson today. I feel like I am progressing huge amounts every day in my understanding of market sequence. Can't wait til Sept.
Yeah, September is kinda like the beginning of the stock trading season.
Two points was yesterdays total. Did better today.
Isn't this a lonesome business? I truly hope you have a great future in this business...I have tried and failed, with minimal loss. I am ready to go realtime again with real dollars again...Last year was premature entry into market ...
I have a 2 entry system that is proving realtime to work to my satisfaction. 1 catches only the stronger moves, and the other is a reversal strategy...
Today, I think you know which one worked best. Emotion is not a factor simply because I have about 3500 hours of analyzing my 400 daily charts which eventually led to these 2 strategies...10 min charts...1,2,3 trades a day....Good for nerves...I won't say how I know the dead charts talk, but trust me, they do. MA's are part of the equation. Bar charts, candlesticks, line charts, dot-on-close..All the same..Find what works often and tinker with it until it works more and more often. Change the indicators, time frames, etc. Compare the changes and the consistencies..I have finally found what I didn't think was possible..Time will tell if it holds its accuracy..400 daily charts say it will.
Have a Wonderful Weekend
I have a 2 entry system that is proving realtime to work to my satisfaction. 1 catches only the stronger moves, and the other is a reversal strategy...
Today, I think you know which one worked best. Emotion is not a factor simply because I have about 3500 hours of analyzing my 400 daily charts which eventually led to these 2 strategies...10 min charts...1,2,3 trades a day....Good for nerves...I won't say how I know the dead charts talk, but trust me, they do. MA's are part of the equation. Bar charts, candlesticks, line charts, dot-on-close..All the same..Find what works often and tinker with it until it works more and more often. Change the indicators, time frames, etc. Compare the changes and the consistencies..I have finally found what I didn't think was possible..Time will tell if it holds its accuracy..400 daily charts say it will.
Have a Wonderful Weekend
I'm getting interested in stocks so have been doing a little looking. Found this lesser known stock, volume in the 200k range most days. With a C+H this obvious, might get a huge gap up sometime soon. One idea I have thought of in the past is that while there are a lot of fakeouts on the big stocks MSFT, CSCO, etc...these lower priced ones tend to follow traditional TA a little clearer. Less competition, less big money involved, so less need to fake out the public. Anyone else have thoughts on this?
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