"A man is not finished when he is defeated. He is finished when he quits."

Wednesday, July 14, 2010

July 14


Back in the saddle, at least for a few hours! I was happy to have a few hours to look at the markets, even as I was distracted by trying to catch up with a ton of mail, paperwork, and phone calls because of my recent vacation.

I paper-traded BP and at the last of the day, VECO. I had multiple-trade positions in each, trying to cheat a little when my entry was not perfect. Not an ideal approach, but there it is...

VECO is still rising slightly in the waning moments of the session, but it appears that I picked a pretty decent exit price a few minutes ago. As I write this and the market closes, it appears that my exit was basically at the closing price; amazing how a price will sometimes feel "right" when you buy/sell, The near-doji at the close tells the story of just how powerful this area was to buyers & sellers... not surprising, given how important it was at 2:45. It was a settled price for that candle also; note the near-doji followed by a reversal.
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Not a memorable trading session for me... lots of rust after nearly a month away from the market. But, it's amazing how much one remembers with just a little refresher course.
Best to all!