Inventory Grab Alert 4/30/09!

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Well that was an good week with some excellent action to set us up for the Sunday AH session. :) Sunday going into Monday cash session, I will be watching 946's again and the 937's to 934's minor zone.

Tomorrow I am going on vacation for about 12 days (now that kids are finally out of school) so I will try to post as I get time....have a great weekend all!!! :) :cool:
 
Excellent work today AMT. What struck me the most was your comment on not exiting at 940 EOD and having no position on into Sunday. I remember in Reminiscence, Jesse talked about an old wise man who said the worst thing you can do is to lose your position and Jesse made all his big money by not bailing. This is something really hard for my psych as I like to take early profits. Do you have any recommended readings/exercises on trading psychology that helped you to hold on to trades?

Thanks

W
 
Have a great weekend and a safe vacation.

Still hoping we finally get that break of 900 next week....so I can throw out my lawn chair and buy a recliner to relax.

:p
 
Quote from jfw215:

Excellent work today AMT. What struck me the most was your comment on not exiting at 940 EOD and having no position on into Sunday. I remember in Reminiscence, Jesse talked about an old wise man who said the worst thing you can do is to lose your position and Jesse made all his big money by not bailing. This is something really hard for my psych as I like to take early profits. Do you have any recommended readings/exercises on trading psychology that helped you to hold on to trades?

Thanks

W
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I just never had any problems getting my mind around holding short positions when in multi day/week position trades. Holding long positions is a different story......those I handle different (more like work for me imo).

The only way to get over psych issues is to just "do it" and get used to it over time imo. Just think out all the extra responsibilities involved with "holding"......it does require extra time AH to pay attention to the markets (that part is not work for me....I enjoy it....LOL). Give it a try after thinking out your set of rules for holding positions. There has been tons of movement at times in the AH sessions so I like taking advantage of this. :)
 
Quote from EdgeHunter:

I missed the post where AMT said he took off all his positions... did he... :confused:
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I think he said "not exiting........".

I am holding two levels of ES 956's and some DAX into the weekend. :)
 
Quote from AMT4SWA:

I think he said "not exiting........".

I am holding two levels of ES 956's and some DAX into the weekend. :)
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excellante bante !!!... :D

DAX great...

Das ist mulch betta... I didna not wanta be short all by my self with all this seller inventory overhang above me...

crike...

May The Inventory Be With You... :p
 
Quote from jfw215:

Excellent work today AMT. What struck me the most was your comment on not exiting at 940 EOD and having no position on into Sunday. I remember in Reminiscence, Jesse talked about an old wise man who said the worst thing you can do is to lose your position and Jesse made all his big money by not bailing. This is something really hard for my psych as I like to take early profits. Do you have any recommended readings/exercises on trading psychology that helped you to hold on to trades?

Thanks

W
More...

"Through unknown mechanisms, he yet again lost much of his trading capital, accumulated through 1929. Thus, on March 7, 1934, the bankrupt Livermore was automatically suspended as a member of the Chicago Board of Trade. It was never disclosed to anyone what happened to the great fortune he had made in the crash of 1929, but he had lost it all."

Loved Reminiscences of a Stock Operator, great book!
 
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