Archive for March, 2008
I had a lot of 'rules' in my head today regarding my trading which I wanted to adhere to. They were:
Only trade when there is a signal, wait for confirmation before entry
Try and hold out for greater profits, move stop loss to next level each time the market moved my direction
Try and be objective, resist the urge to take small profit if the market is still behaving or going my way
Watch for the longer term trends to gauge the directional trade bias and use the shorter timeframes to
March 31, 2008
1 Comment Full Story
When I got back home, the market was slowly dying a death.. the market was heading lower and lower. The stochastics charts were flatlined at the lower end and not moving much at all in both the 5 and 15 minute charts.
I went short and tried to hold it as long as I could from 132275.. it managed to get as low as 132050 before it headed higher and hit my stop for -3 (it would have been lower but I learnt my lesson from yesterday and that's to move the stop down as the price moves beyond each le
March 28, 2008
No Comments Full Story
The subject of this trading is a very well known trading adage and for those who trade, I'm sure you've seen it many times before. However, how many people can actually do this?
We are programmed to lose by nature with the stock market.. peoples' emotions mean that they tend to hold onto their losers in the hope that they can recover any losses but the winning trades are those that we cut short once their in profit (simply as it feels nice to be in profit). In the short term, you will lose th
March 27, 2008
No Comments Full Story
« Older Entries
