Fas/faz - 5/11

[Haroki]

Quote from scot.mcpherson:

I try NOT to call the tops and bottoms, but that's what I usually end up doing, and I tend to do it wrong. I get lucky sometimes and I make back all the money I previously lost, but I haven't made any real headway.

I try to swing trade by seeing a trend, but I tend to end up at the top of a pennant or flag rather than near the bottom of a new trend.

Now sometimes because I end up giving up too early, I end up loosing money I could have kept if I were more patient. So what do I do? I try to practice more patience and the money continues to get flushed until I finally give up...guess what happens...every time....

That's when it changes direction again. It seems my tolerance levels seem to track the bottoms and the tops...it's frustrating sometimes.

Again I do get lucky sometimes, and I take a really good position that soars me back into black in a single trade or two, but ugh...I should be so much farther ahead if not for the stupid maneuvors.

You might want to change your strategy some then.

Why not take trades where you can see a potential of 3-5%, and on occasion take a flyer and make 10%?

Seems to make better sense since you're out in meetings and can't watch all the time. Trying to slice little gains here and there are for the guy that can babysit a trade all the time - although it ain't MY way either.

Hit singles. When you connect good and get it by the outfielders and make a big gain, take that.

 

[Haroki]

Quote from Eko_Trader:

Yea Like 9.00 would have made a nice entry. But brilliant strategy nonetheless

Actually, down here around 8.50 would have been ideal for a little more agressive trader - which ain't me - when it rejected going negative.

 

[Eko_Trader]

Quote from scot.mcpherson:

I try NOT to call the tops and bottoms, but that's what I usually end up doing, and I tend to do it wrong. I get lucky sometimes and I make back all the money I previously lost, but I haven't made any real headway.

I try to swing trade by seeing a trend, but I tend to end up at the top of a pennant or flag rather than near the bottom of a new trend.

Now sometimes because I end up giving up too early, I end up loosing money I could have kept if I were more patient. So what do I do? I try to practice more patience and the money continues to get flushed until I finally give up...guess what happens...every time....

That's when it changes direction again. It seems my tolerance levels seem to track the bottoms and the tops...it's frustrating sometimes.

Again I do get lucky sometimes, and I take a really good position that soars me back into black in a single trade or two, but ugh...I should be so much farther ahead if not for the stupid maneuvors.

In addition to what Haroki said, make sure you know what you did wrong and therefore not do it again. Everybody makes bad trading calls, but not learning from those calls will eventually get your account to ZERO. You're a smart guy, so just keep a sharp memory of the bad calls, figure out the lesson to be learned, and learn the heck out of it.

 

[scot.mcpherson]

Quote from Eko_Trader:

In addition to what Haroki said, make sure you know what you did wrong and therefore not do it again. Everybody makes bad trading calls, but not learning from those calls will eventually get your account to ZERO. You're a smart guy, so just keep a sharp memory of the bad calls, figure out the lesson to be learned, and learn the heck out of it.

I try to, and as you can read I tried to incorporate at least one lesson I learned into the story, what's frustrating is that even after I learned that particular lesson, it still bit me in the butt. Patience being the one I am talking about, even when I practiced more patience, the market still seems to turn when I finally give up on a position.

I need to learn to improve my entries I think.

 

[Haroki]

Wowzers.

Lotta resistance here at the previous highs.

"Looks" like it'll break through though...

 

[scot.mcpherson]

Quote from Haroki:

Wowzers.

Lotta resistance here at the previous highs.

"Looks" like it'll break through though...

Ya, people don't seem to trust it much, the volume is very low...

 

[Eko_Trader]

Quote from Haroki:

Wowzers.

Lotta resistance here at the previous highs.

"Looks" like it'll break through though...

Hope you got out earlier

 

[scot.mcpherson]

It dove, I hope you got off soon enough for your comfort.

 

[stevegee58]

Quote from scot.mcpherson:

Ya, people don't seem to trust it much, the volume is very low...

Current volume on FAZ is 221% of average.
Current volume on FAS is 92% of average.

 

[scot.mcpherson]

Quote from stevegee58:

Current volume on FAZ is 280% of average.
Current volume on FAS is 90% of average.

That's cause the recent down turn, there are still people jumping onto FAZ, and there are others trying to jump ship. And there are other's who got out, and then got back on this afternoon. FAZ was heaviy traded this week. It's a boat that I missed because I didn't think it was going to happen. Each day I suspect FAS would rebound and I was wrong each time.