Posts Tagged daytrade
![Amazing Luck or Skill?]()
As per my previous post, I closed my short seeing the stochastics being at a low... However, what surprised me was when I next looked at the chart... it short up, my exit being the low point and shooting up 100 points.
I was lucky to get out where I did.... can you say it was skill? I really would like to think it is but boy, the market does funny things most of the time so I am more inclined to say that it's luck!
Anyway, what I did miss out on was the move upwards... the pivot level is t
August 10, 2010
No Comments Full Story
![Shorted DOW after it's retracement]()
The DOW was clearly in a downtrend today but when I got to the charts, it was retracing and I looked for an entry to go short. I went short around 10610 after the retracement make a double top in the 5 minute charts (also stochastics has peaked). The first support line was at the pivot point S2 but nothing happened and the market broke through this relatively easily. I was also conscious that stochastics were at a low too and would look to making some move upwards so when the market hit 10585, I
August 10, 2010
No Comments Full Story
![Thinking too much and trading]()
Today, I'm sad to say that I didn't listen to my instinct when it came to trading. I was being too clever and thinking about what the market was doing.
Look at the chart below. The market had hit the pivot point the first time and retraced. It then moved upwards and this was the time where I got back home and look at the market... it had retraced off the pivot and some strong movement up again towards it. I was a littl reluctant to put on the long as the pivot point was so close again when I
July 20, 2010
No Comments Full Story
« Older Entries
Newer Entries »
