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Catching Big Waves - a trader's journal of surfing the the markets
The zone at 87.46 got a decent reaction. 6E also had a reaction at a major LSP. Profits should start to come off the table here, and stops are getting tightened.
With that much fear... I am still not in this market, and may not get in today. Major impulse moves like this are not my favorite environments. I like volatility, but have a comfort zone.
Had I been able to pay attention earlier, I would have gladly joined in, but too many phone calls and not able to watch closely enough to trade. Net $432.50 and may not make goal. It happens.
I can tell I am wanting to force a trade. I am caught up on calls, missed an exciting day, passed on a few entries. That is not the way to trade. I caught 5 ticks just out of boredom, heading to the prior high. Pointless. I am more likely to take minimal scalps if I am down for the day, but not up. The market will be here this afternoon, or even tomorrow. I am getting out for awhile. Net $482.50, less than half but better than none.
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Believe it (about not wanting to force a trade). Also, you were working your ass off in another market(s) earlier; you are probably a bit burnt. Time to relax some.
Who gives a fuck about 'flush out days!' Guys that brag about nailing HUGE money on a day like today are either
a) small 1 and 2 lot traders and most likely will stay that way
b) lucky and got a bit back from previous 'losses'--however much that is...
OR
a) paper/sim traders that need to announce a huge day for whatever reason that is???
You won't see 'size' traders saying much on a day like this. They are ANALYZING and studying for the next high-probability setup with (usually) a better R:R setup(s)--perhaps with a bit less intraday ATR risk.
Just my humble opinion. And fast-moving markets keep me humble and 'nibbling' in my selective daytrades across 3 markets.
peace
hedvig
p.s. Good journaling the last 24 hours. Keep it tight and right. If flush-out days are not your style (and you are taking calls on the phone to boot); you got yourself a pass for the rest of the day. Go out and live it!
I'm having a beer and some green dragon and analyzing alot of swingcharts for the next 'sniper' assignment.
