I have no outside dayjob appointments today (as yet) so I had a chnace to sit in on the markets at the open. I took two paper-trades with a $170 gain each. With such a big move at the open, TNA was a great trader; at the top of my list in daily move since the open. My inclination since I began learning this craft has been on playing for reversals of big moves. Today, I tried to play toward momentum, favoring buying in the direction of the primary move of the day. It seemed uncomfortable to me to be buying pullbacks instead of selling tops. It worked out ok for the high-volume rush this morning... of course everything is easier on big momo days. Last spring and summer I would think nothing of sitting here all day practicing but since the late summer I've learned that such moves are foolish. I can't act as though trading pays the bills and pays for others to do my long list of home projects. It clearly doesn't. So, today I am focusing on some day-job admin work and finishing up a cabinet trim project in my kitchen. The week-end is mostly free for the continuation of my project work so I should make great headway over the next three days. Someday, I hope to devote more time to training to be a self-employed stock trader... But for now, it is a part-time indulgence! I might try to get back to the market while I have my lunch a couple hours from now and perhaps at the close.
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Update @ 4:30 pm:
I did not get a chance to get back into the markets so the two papertrades from this morning are the only ones for the day. Too bad... I had CNBC on as I worked on my cabinet project and it seemed to be a wild day... cannot wait to study some charts later to see the action that took place.
Hope all had a profitable day- financially or educationally!
