thought...

"Thrift and self-control are not sought because they create wealth, but because they create character." - Calvin Coolidge

March 27th

My morning day-job appt was a bust so I had a chance to sit in front of the mkt for the entire day and I truly enjoyed getting back to paper-trading. Not a bad day for me, had some early success with my first four trades, averaged my buy price down on the next two but bailed out on them too early; both went on to what would have been nice gains. I find that when I double-down for a better price, I often try to escape with a modest gain, even though my gut, experience, and action of doubling up indicate a nice run is expected. It is a curious habit and proves that fear is alive and well inside my head. I've done it about 6 or 8 times over the past weeks and each time escaped with a very small gain or a small loss. The fills are hit or miss for profits on the sale even though I always show a gain when I pull the trigger. I must condition myself to wait and trust my "gut."
The rest of the day was quite fun and I was in early on a number of nice moves but bailed early; decent gains but fairly small ppercentages of the entire move. This is something I must fix but it is a great problem to have, as problems go; I won't beat myself up too badly. I just looked over at my SKF chart as I'm typing and saw a great entry... at the 3:00 pm candle, but I am done for the day. Yup, over a dollar per share available so far on that move... it appears I quit too soon!

13 for 19 winners; a 68% success rate. $2.62 per share gain.

March 25th

I had a day-job appt this am and then had to run a number of errands. Finally, I was able to sign on and see what the markets were up to. Between 3:22 pm and 3:33 pm (eleven minutes), I made six trades and picked up $1.66 per share. I was pleased with this as I had been unable to trade since last week. Traded SKF and GS. Nothing remarkable about the trades, just looking to fade pullbacks.

6 for 6 winners for a 100% success rate. Gain of $1.65 per share.