Have I used this title before? Market seems to be in a strong uptrend, gaps higher on the open, so I try 3 times to buy it as it trends downward, then cannot find a suitable entry for the rest of the day. NQ was 1873.50 right as the stock market opened at 9:30. At the 4pm bell NQ was around 1793 and at 4:15pm they closed it at the absolute low 1791, 82.5 points lower. Very discouraging to lose money on a day like this. I had a little help from others who read the market wrong, but some of them managed to reverse and find shorts. I only did 3 trades, 3 losers. I know I can do much better than this. 1. Identify the trend. 2. Find a low risk entry. 3. Execute
Friday, January 25, 2008
One step forward, 2 steps backward :(
Have I used this title before? Market seems to be in a strong uptrend, gaps higher on the open, so I try 3 times to buy it as it trends downward, then cannot find a suitable entry for the rest of the day. NQ was 1873.50 right as the stock market opened at 9:30. At the 4pm bell NQ was around 1793 and at 4:15pm they closed it at the absolute low 1791, 82.5 points lower. Very discouraging to lose money on a day like this. I had a little help from others who read the market wrong, but some of them managed to reverse and find shorts. I only did 3 trades, 3 losers. I know I can do much better than this. 1. Identify the trend. 2. Find a low risk entry. 3. Execute
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