Posts Tagged trading psychology
Today I thought to myself that if I could ride the peaks and troughs of the market, I could capture more of the profits. I am finding that I tend to chicken out at about +10 prices or so.... if I am to capture more profit, I'll need to ride through a couple of peaks and troughs. Stock prices and any type of financial chart never moves up in a straight line.. it dips and peaks as it goes up and down.
Anyway, as you can see, the first trade was a short when the market approached making a triple
April 24, 2008
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I traded a few times today.. the first was an easy short as the market fell below the MA line confirmed by stochastics and MACD. The second and third trade, I really should have been a bit more careful. I was expected a move lower but the stochastics were already showing oversold levels.. I should have been cautious here as each one was a -10 hit.
My last trade was a nice long above the 138600 level as MACD and stochastics moved up. The only thing was that I sold early when it hit the previ
April 21, 2008
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I got my Friday off and therefore had more time to trade. I made a series of trades as you can see from the chart.
First trade was a short at what I thought to be the forming of a triple top. The price action had indeed moved down a tad and I had caught it a bit late.. the market had reversed and went up to hit my stop for -8! Ouch!
My second trade was a stop and reverse. As the failed top patterned emerged, I went long above the break and caused +7 prices...
Third trade was a short at
April 20, 2008
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