Not Cashing In On Pay Day

R

Ron In-a-sauna

today was one of those days that dont come along too often and traders really need to CASH IN while the market is paying us off...
frustrating when you dont make enough...i got "stuck" in some pairs for too long so the short side cut deep into my profit...still made bout 500 but today is the kinda day you need to make at least a grand or more...dont know what the point of this thread ism just venting a little, but i hope all you other guys rang the register big today!!!! we need it after soem of those slow sessions.....
 
I work during the day I only slightly got in on it. During lunch I bought in sunw at 3.14 and sold out today at 3.30 after work :/ Made almsot 5% :/ Being that I am completely new, that is the best trade i have made yet and I am even for the year again
 
idunno... i find it hard to get into bull mode after being in defensive mode for so long.

i traded today the way i always have. i could probably stand to be a bit more flexible.

Market Wizard Ed Seykota said 'there are old traders and there are bold traders, but there are very few old, bold traders.' i guess i sort of lean to the conservative side.
 
Quote from Ron In-a-sauna:

today was one of those days that dont come along too often and traders really need to CASH IN while the market is paying us off...
frustrating when you dont make enough...i got "stuck" in some pairs for too long so the short side cut deep into my profit...still made bout 500 but today is the kinda day you need to make at least a grand or more...dont know what the point of this thread ism just venting a little, but i hope all you other guys rang the register big today!!!! we need it after soem of those slow sessions.....
More...

Look, days like this are hard for day traders..people positioned for something like this did well no doubt..but as a DT sometimes these days are the worst for you always think don't chase, wait for better entry etc. And it doesn't happen.

The point being do not beat yourself up for not maximizing your PL on a day like this. I have "missed" countless days like this and have still made out OK overall in the grand scheme of things.

Also better up 500, than down..sound's trite, but true.

You will nail a day like this someday soon.

Best to you
David
 
Quote from chasinfla:

idunno... i find it hard to get into bull mode after being in defensive mode for so long.

i traded today the way i always have. i could probably stand to be a bit more flexible.

Market Wizard Ed Seykota said 'there are old traders and there are bold traders, but there are very few old, bold traders.' i guess i sort of lean to the conservative side.
More...

great point, that was my problem today too, got too opinionated, i kept recalling the reversal in retail last week, and had the WMT/TGT pair on, was short WMT and it just tore me several new asses....it blew through every resistance it had like it was nothing, you name it: prior highs, pivot resist, round number, 2 SD... 3 0f these coincided at just over the point was looking for it too stall there and made a stand but WMT was just a freight train today... finally gave in and went long at .25 and salvaged a 1/4..at least TGT paid me off today, kept it overweight too...
 
Yes today - and any day for that matter - it was easy to make money. We are all experts after the market closes and we see all intraday charts.

I missed out on a lot too, but that was my choice. I certainly didn't see this coming, and that's ok.

Funny thing is, all the money I made today was on short side in the morning. About 700 on ES position. Thats it.

Good thing I wasn't there in the afternoon, because I would try to short the market like I always do. When I left office NQ was at 996. I put an order to short at 1020 - but changed my mind when it got close to it and called in to cancel.
Good thinking eh?

When market grinds higher all day, I never make money unless I get in WAY early.

Damn things never get easy.
 
I wasn't as lucky. I went short the whole day. Hit once in the morning but got wrack twice in the afternoon. Hate to say i had a net loss but i am glad i live to short another day.... Thanks to my stops :)
 
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