Done for the day

I'm done for the day and have put up no other trades after that most recent blog post.

Today is Mrs. Bluecollar's and my 17th wedding anniversary and we are having an early dinner out to celebrate in Portland. That's THE Portland, founded in 1632 AD, not the one in Oregon :-).

I put the chart up to furhter emphasize what a great idea it would have been to reverse after my 1:39pm exit. Nice drop in GS in which I did not particpate.

today

On the bottom chart are three most recent of the seven trades in GS that I have taken today. According to plan, they are all stop outs. With the exception of the last one, that is. Like prior days, I had to take a quick bathroom break and didn't want to leave the trade unattended. As it turns out, my exit was a good one given the downturn in GS after I got out at 1:39 pm. Eventually, it is my goal to use the momo shifts to exit and reverse instead of exit and watch.

On the upper chart are the first three trades today in GS. The first was an entry long at 10:32am at waht appeared to be a bottoming in momentum. I was just a bit late getting long after the long red candle at 10:10am. Well, like yesterday and a couple days ago and Many Many times over the past couple years, I got "punked" into a stop out when price dipped quickly and retreated back up. I was stopped out at 123.14 and the candle that did it went as low as 123.09 before reversing and leaving a nice long tail as a reminder that this was a punk move by the MM's to trip stops of everyone who did not get in long at the very bottom (10:10 & 10:15 am candles). Price has been pretty much up all day since then. Stopped out by 5 cents and missed over a $3 trend. Once again, my read of momentum was good but my strategy was lacking in finesse.

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No matter, I have to adjust to these sly punk moves designed to stop out the less adept players. perhaps I should expect it and enter on the long candle wicks, eh?