Thursday, May 10, 2007

May 10 Trade Summary $2,411




I haven't eatin all day and I'm expecting choppy action into the close and my trading skills aren't as sharp as they were this morning, so I'm done for the day. I missed some really easy setups today off of the first bounce. If anyone wants to see the trade log let me know, it was pretty messy trading in the afternoon on my part after being up 2K in the morning, then losing 1k by trying to buy during the afternoon too early and averaging into a losing scalp, but then I noticed we got a trend line break on the NYSE A/D at a key time of 10:30am, so I cut my short position(after already being long a few minutes earlier), and rentered my long position with a target of 826, scaling out on the way up,,perhaps a little too soon as usual. Overall I came out ahead an extra 1-200 bucks trading the afternoon while taking a sizable unrealized intraday loss by trading this time period. The last week of trading I've been trying to push myself to trade larger size, it looks as if I should be focusing more on trading larger size in the moring when I'm sharper, and lower size in the afternoon, where I tend to add to scalps that sometimes result in taking sizable losses where I have to add even greater size to, to make the trade come back to breakeven or my desired profit target.
I forgot to go long ZN today, with a nice setup at 8am. O'well, at least I came out ahead trading ER2.

We had a selloff pattern like today's a a few months back, very similiar pattern, I will try to find the old chart from my archive. Also, we tend to see a reversal a day or two after FOMC days in the opposite direction of FOMC day.

Also, before I forget, I saw some real sneaky action on Citigroup today before we began the sell off, I'll post the chart later.

I'll post more later with charts and analsys, gotta go eat.

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