for now FLAT.
todays lesson for me
Started by
Tor
, Jun 07 2007 03:09 PM
4 replies to this topic
#1
Tor
-
- Traders-Talk User
- 7,647 posts
Member
Posted 07 June 2007 - 03:09 PM
it saved me.
As people will know I have been playing the upmove and done well with it. These past two days I have given some back.
BUT...I have no regrets because:
1. I am still up overall and in profit.
2. I did in fact go short but sadly was quick to close. Never mind, next time.
But this only worked because I honoured my stops!
Best to one and all.
for now FLAT.
for now FLAT.
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#2
JAP
-
- Traders-Talk User
- 575 posts
Member
Posted 07 June 2007 - 03:18 PM
it saved me.
As people will know I have been playing the upmove and done well with it. These past two days I have given some back.
BUT...I have no regrets because:
1. I am still up overall and in profit.
2. I did in fact go short but sadly was quick to close. Never mind, next time.
But this only worked because I honoured my stops!
Best to one and all.
for now FLAT.
Silly bulls... it was bound to happen sooner or later... more to come
#3
Tor
-
- Traders-Talk User
- 7,647 posts
Member
Posted 07 June 2007 - 03:22 PM
it saved me.
As people will know I have been playing the upmove and done well with it. These past two days I have given some back.
BUT...I have no regrets because:
1. I am still up overall and in profit.
2. I did in fact go short but sadly was quick to close. Never mind, next time.
But this only worked because I honoured my stops!
Best to one and all.
for now FLAT.
Silly bulls... it was bound to happen sooner or later... more to come
JAP no kidding, I was making $ so easy. And no risk. I would enter long, and put a stop in and then it would never get touched. I would only risk a 5 points even. Very good. I had a string of about 7, 10 point trades!!!
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#4
esther231
-
- TT Member+
- 1,336 posts
Member
Posted 07 June 2007 - 03:32 PM
You've been trading really well, Tor.
When I see an adult on a bicycle, I no longer despair for the future of the human race. ~H.G. Wells
#5
linrom1
-
- Traders-Talk User
- 4,025 posts
Member
Posted 07 June 2007 - 04:06 PM
I think that most people are slow too react to trend changes. It will invariably take them a long time to unlearn "buy the dip mentality." It is not easy for most(including myself) to make trades based on your understanding of what should be happening. For example, yesterday, on several occasions I had checked SRS' chart, inverse REIT ETF, and had noticed that it was just not reacting to rising rates., so I ignored it. Today it exploded to the upside.
The lesson for me is that charts are fine for trend following, but, you must act first, and then wait for the institutional response.
Edited by linrom1, 07 June 2007 - 04:06 PM.
