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Catching Big Waves - a trader's journal of surfing the the markets


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Catching Big Waves - a trader's journal of surfing the the markets

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  #1521 (permalink)
 GaryD 
Orlando, Florida
 
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This could change at any moment, but where my head is right now. The trigger area will be the LSP.

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 Deucalion 
Calgary, Canada
 
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Once that high of 107.27 was not broken, I had a good idea, more downside was needed. I was -29ticks on full size before the DOE report (stupid).

But a good +30tick initial long at 105.40 (break of the previous daily) made up for the loss. And then came my favourite trade....an extension to W5 (this IMO is representative of the market in pain). Once 105 was broken co-incident with typical W5, that was my cue for an aggressive long (much bigger size) for +60ticks. A move like that...even once a month makes it worthwhile...and so it is. Now, that -29t seems pish posh. As I trade more, it not the ability to just make my daily bread that's the aim. It is the opportunites to lever UP when others are in pain. That for me is the grail (no matter how infrequently they happen, 2 - 3 times a month is enough to change the whole month, or even the whole year)




 
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 GaryD 
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 GaryD 
Orlando, Florida
 
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closed +17. Still would prefer a lower entry, but may have to regroup. I left the original order in place and took that as a scalp based on the catch at the DC, and could be too interested in lower numbers to catch anything more significant today. Crude has bee wild in it's swings, and I have no goal today other than net +.

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 GaryD 
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 GaryD 
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one off

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 GaryD 
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Took one off at +20, a 2nd at +23

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 GaryD 
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closed 3rd +41 done

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 GaryD 
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I can breath normally again.

One thing I have seen in muself, if I really pay attention, is when the stakes get higher my breathing changes. That is not something I like or believe is good.

I switched gears when the bottom tested several times and could not fall. Shorts were trapped, and with price having hit a major support area and then coming out of it so hard and fast, it seemed chances were good there would be a short covering run after the "trend" earlier was so obviously down. New shorts were hitting the top of the channel, most likely thinking that would be a great place to enter and have a tight stop, and those order just kep building up over the past hour or two.

Summary:

-11 long
+34 short
+17 long
+20 long
+23 long
+41 long

Net +124


I wish I had the courage to take the long when it hit support with the 5500 contracts, and I was ready to go in on a retest, but the reversal was swift and hardly looked back. I just sat for an hour +/- wishing I would have bought at the top end of support, but spike bottoms are tough and I do not like to freight train.

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 Deucalion 
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GaryD View Post
........I wish I had the courage to take the long...............I just sat for an hour +/- wishing I would have bought at the top end of support, but spike bottoms are tough and I do not like to freight train.....................

Don't do it. You already have the skill and the ability. I sat around looking at other traders...seeing how they were making more ticks than me....and I started messing with myself....that messed my head...I was taking chances that were not intrinsic to me......A tiger will not hunt like a lion, or a cheetah or an eagle....."

The importance of this is slowly dawning upon me....I look at my record over the past 3years (it pays to trade as myself) no matter how slow and un-skilled that maybe be. I can't emulate others...either I don't have that skill or the time is not right.....There are plenty of skilled traders here....what makes me tickle is that...I can make a good living by being my imperfect self...The road to an illusion is a nasty slide to self destruction.....self destruction is my worst enemy....Dr B has said that over and over again.......



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