Today was a battle up 1500 in the AM, down 2000 off the selloff, but I made it back in the last 45 min. AAPL burnt me bad, and I didn't see the drop coming. Only loser today was AAPL for a whopping $1,299. It was a scalp that I wanted to make $20 on,,,,,OOPS! I should have taken the $250 loss when I got the first bounce, NYSE A/D had a totally bearish setup for continuation to the downside and I felt frozen and stuck in AAPL, I waited for the 12pm reversal and scaled out on AAPL and got a winner on ER2 to make up for my humilating loss on AAPL. I usually scale out on my bad trades just like I scale in on my good trades, but today I totally screwed up by not watching the major market and NYSE A/D during the afternoon. I need to keep trend line alerts on the NYSE A/D. I was so focused on AAPL that I lost track of what the broad market was doing and I ended up losing what I made in the morning. I failed to use a stop on AAPL and was struck with "Deer in the headlights syndrome" (DITHS,,aka DIPSHIT without a stop loss)
P/L $1,638 net on 75 contracts, and 4,100 shares
Today could have been a good day but I screwed it up by not watching NYSE A/D. Oil popped today too, but XLE really didn't lift the market. I'm not sure if there was news out today besides the morning housing number that I missed, but it was yet again another good day full of volatility and I'm glad I came out ahead after screwing up so bad on AAPL.
5 comments:
The commission sound very high given the vol of trades you posted. I wouldn't expect much more than $420.00 total but I am sure I must be missing something.
J
You are right J, nice to see people are actually reading my blog, I made the mistake of subracting my futures P/L minus my Net P/L for the day because I don't normally have to take stock trading into account because I don't normally trade stocks. The commission was less than $400 I think, thanks for double checking my numbers, I knew something didn't seem right.
hi HPT,
how do you analyze the NYSE A/D line? do you look at the actual number or do you look at the change in the A/D?
Take care,
B
g,
I look at the value and change 1.8 and up is bullish and 0.8 and below is bearish.
THanks for the tip! do you also pay attention do the trend of the A/D? Say the A/D is well over 1.8, but is in a downtrend?
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