+ $264
Weekend news that ANFâs new flagship store in Italy left empty cash registers behind, plus weak price action, plus the fact that it failed to rally with the market invited a short @ 39.93 average price. Covered @ 39.48 pivot off oversold for +$264.
ES @ 1110 winked at me so hard from across the dance floor and I simply couldnât bring myself to short it, thinking the weak dollar and good housing news would surely drive the market to 1120 on a sudden surge to trap anyone who dared to short the stalled action @ 1110. Key word here is âthinkingâ. Anyone whoâs followed this journal knows that thinking is deadly to day traders. This failure to act quickly and decisively was my regret of the dayâ¦
Had several things to attend to after that, which was just as well because the market was in the range/chop after the opening surge, which tends to churn away profits.
Sim traded gold (GC) today, first the Jan contract (the spread made me realize maybe I should be trading Dec), then Dec, both profitable trades despite not even looking at a chart. I traded based on the way the price was moving on the DOM. If the price moved up a lot then started moving down, I shorted. Is trading really this easy? Are all my charts, MAâs, Keltners, volume and stochs completely unnecessary???
Later offered 39.59 ANF when it found support and moved to test previous resistance, looking to scalp .20 cents or so, but it did not get there before dropping quite nicely from .48. Oh well, canât catch them all. They're ex-div tomorrow so didn't want to do anything except catch a quick scalp, though I believe this one's headed to the 36's in the near term.
ES winked at me again on the 2nd leg up from late day support to 1105.00 where it stalled briefly above the upper channel line, but I was certain weâd get one of those end of day rallies after price drifts down all day.
No, Maâam, that was indeed a fine short entry, good for 3+ pts straight down past the overshoot of the lower channel line.
I guess the lesson today is donât worry about what happened yesterday, or last week or what the news is or whatever, just take the signal, put on the trade, put in the stop and take a bathroom break.
Weekend news that ANFâs new flagship store in Italy left empty cash registers behind, plus weak price action, plus the fact that it failed to rally with the market invited a short @ 39.93 average price. Covered @ 39.48 pivot off oversold for +$264.
ES @ 1110 winked at me so hard from across the dance floor and I simply couldnât bring myself to short it, thinking the weak dollar and good housing news would surely drive the market to 1120 on a sudden surge to trap anyone who dared to short the stalled action @ 1110. Key word here is âthinkingâ. Anyone whoâs followed this journal knows that thinking is deadly to day traders. This failure to act quickly and decisively was my regret of the dayâ¦
Had several things to attend to after that, which was just as well because the market was in the range/chop after the opening surge, which tends to churn away profits.
Sim traded gold (GC) today, first the Jan contract (the spread made me realize maybe I should be trading Dec), then Dec, both profitable trades despite not even looking at a chart. I traded based on the way the price was moving on the DOM. If the price moved up a lot then started moving down, I shorted. Is trading really this easy? Are all my charts, MAâs, Keltners, volume and stochs completely unnecessary???
Later offered 39.59 ANF when it found support and moved to test previous resistance, looking to scalp .20 cents or so, but it did not get there before dropping quite nicely from .48. Oh well, canât catch them all. They're ex-div tomorrow so didn't want to do anything except catch a quick scalp, though I believe this one's headed to the 36's in the near term.
ES winked at me again on the 2nd leg up from late day support to 1105.00 where it stalled briefly above the upper channel line, but I was certain weâd get one of those end of day rallies after price drifts down all day.
No, Maâam, that was indeed a fine short entry, good for 3+ pts straight down past the overshoot of the lower channel line.
I guess the lesson today is donât worry about what happened yesterday, or last week or what the news is or whatever, just take the signal, put on the trade, put in the stop and take a bathroom break.
