ES Journal - 2013

doubled size short @ 1660

avg 1658 - am comfortable here.

I haven't puked up my short yet but I have committed a sin by adding to a losing position (a couple of handles, but a sin nevertheless).

I will hold into the weekend. I'm targeting 1630s.
 
I don't mean any offense to shorts. I have been caught in enough of these to know I could very well be adding into a losing position.

I have an uncannny ability to scream "uncle" at the proper "top".

should see a solid 20 point retrace....but under these funny conditions....it may be after another 100 point run. :confused:
 
Everybody who was short under yesterday's close is feeling pain right now. Overnight inventory was long and no sellers in sight today.

-burn8
 
Quote from Builder17:

my short was stopped -3
More...

i think you have gotten stopped like what say 7-8 times in last 2-3 days? Everytime losing 4 points is like losing 30 points.

One thing I learnt was that once I get stopped 3-5 times in close succession (like within 2 days or so), I don't reenter. It means:
1) either i am not trading well. so better to stop tradng for 2 days, clear your mind, rebuild and come into the game again.
2) or it means that market is trending massively and i am misjudging. In either case, stopping trading after 3-4 consecutive losses within 2 days, has saved my account a lot.
3) it can also mean a third thing which is that i am switching directions and buying tops and selling bottoms hoping for a breakout when mkt is in a range. Best to take a 2 day break.

Cheers.
 
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