Posts Tagged trading mistakes
Today, I saw the perfect Head and Shoulders pattern on the S&P and got very excited. Look at the diagram, the 3 red dots signify the shoulders and head. I have read about this pattern in technical analysis books and in most cases, they signify a reversal pattern. I was looking at the chart moving up to at least 1388!!
Anyway, I went long at the second shoulder.. the market moved 2 points up my direction.. it was looking good and then tanked, breaching the limits of the second shoulde
May 28, 2008
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I went long at the break of the previous high in the S&P at around 1378... I actually got in at 1379.48 due to the spreadbetting spreads which you pay rather than their commission charges... they move their spreads about meaning that you can lose half a point (in S&P terms) per transaction... and upto a while point when doing a round trip.
Anyway, the market went up and I got out at 1381.53 (I actually closed when the chart reached 1382 which was my target exit) for the equivalent of
May 27, 2008
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Today was a bad day for me to trade.. I didn't feel right, I felt a bit fed up with the whole trading thing. I see periods when I am doing ok and periods when I am doing lousy and altogether, I am not sure if I am making progress or wildly stabbing in the dark.
Anyway, back to the DOW today. I went long at 12754 and got stopped at 12736 for a loss of -36. Once again, I went long at the top of the pullback....
Then I read the comment from Stephen McCreedy (thanks for the comments in a
May 21, 2008
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