Posts Tagged dow jones
I went short on the break of the support line today at 11430. I was so sure that we would see a huge move that I went in 3x normal size. The market moved 10 points my way and then reversed tricking myself (and I'm sure a lot of other shorters), taking me out at 11455 for the equivalent of -25 x 3 = -75! Ouch!
The moral of the story is to always bet the same size for each trade.. afterall, you just never know what will happen as we see today. The markets are notorious for doing this sort of th
July 21, 2008
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I read officially that we are in bear market territory, this is where the markets have fallen 20% from their highs... the state of the economy is not looking good and the financial sector especially is taking a bashing.
However, I took a few scalp trades today... I am having some real problems holding trades which is my biggest weakness in the markets... trading psychology plays a huge part and I am letting myself down when the markets are going my way.. I feel inclined to take a profit whic
July 9, 2008
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I haven't been trading enough this week so I was eager to get stuck in today.
My first trade was a short at 12922... the market had already come off a 50% Fib level and I was thinking that it had further to go. I had missed the move as it fell (as I had only got in at 6.30pm GMT).. I quickly opened the short but didn't check to see that the stochastics had almost reached the oversold level. This was frustrating as I sold right at the bottom. The market went up and hit my stop for -18!!
A
May 16, 2008
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