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

September 13th, 2012, 11:20 PM

Here's a weird thought. Crazy day today. My plan of attack; wait for something I understood. Most of the day, it was not it.

September 13th, 2012, 11:31 PM

QE3 seems really backwards to me. Fortunately I don't care when it comes to trading.

September 13th, 2012, 11:36 PM

I won't sell crude just because it is in a significant zone. I have been sitting here asking myself, why?

I don't need to.

September 13th, 2012, 11:40 PM

That tiny bit of information. One little laptop screen. And I am kind of enjoying it.

September 13th, 2012, 11:46 PM

I want to see something. I find it works better to not be first.

September 13th, 2012, 11:59 PM

There went those who sold early

September 14th, 2012, 08:27 AM

GaryD

Oh yes, go back to my comments on the 5wm and then double bottom in crude. But did I buy 50 contracts and hold on? The answer is easy now.

I was sitting with a friend who knows nothing about trading, switched to Kinetick and showed him a weekly chart of crude. I said, "Let's pretend I decided to learn to trade in January 2008. My teacher says, buy when this crosses that, sell on the opposite. And I started with $250k, went in 1 per $10k..."

And showed him how dumb luck could have made millions. Long, and then short.

That happens sometimes.

But what I become more drawn to as I progress, is what happens on a regular basis.

I showed my friend where I sold today. He said, "That's it? But I thought you sold when this happened and bought when that?"

That's part of it, yes.

Find your place, swing $100, you never know.

What now....up down?

Above $100, then Below $100 and then back above.....and then back below

Could be a fun next week

September 14th, 2012, 09:06 AM

greenr

What now....up down?

Yes, something like that. My money is on it not sitting still.

September 15th, 2012, 06:28 PM

I finished Friday down 67 ticks. And despite the small amount, felt horrible afterwards. I spent some time with a friend after the close and he could tell something was wrong without me saying a word.

I had been in a short trade, 3 contracts, and out of nowhere my computer "blue screened" It said it was a memory issue, but I could not find anything. I was running at about 50% capacity.

I called my broker, "Please flatten me". They asked if it mattered where, and I said no, I just wanted out. Thanked them, restarted and watched for awhile. The trade would have been a great winner, but I closed at about $400.00 down. I was hesitant to reenter, not sure what was wrong. But then sat there long enough to think it was a fluke, took another trade, then another, then another. Back and forth, mediocre trades at best. Got down $850, back up to negative $390, and finished down.

I was swinging at anything that moved, holding a grudge from the equipment failure.

I know better, I tell myself to do better, I was prepared to quit early on Friday. And then felt so down that something so simple can throw me off to where I trade like an idiot. The end result was not that much worse than had I quit at the blue screen, but the behavior I saw, and only saw it after the fact, really bothered me.

Trading with a heavy emphasis on discretion requires a calm mind. Sometimes I don't see that I am not there until after I shut the computer down.

September 15th, 2012, 06:32 PM

Crude tried to complete and ABC on Friday, and held at an intermediate level. As of close, aiming higher.

I do not watch a 10m chart very often, saw this occur on the 30m, but it is harder to see there.

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