Just got an emergency call from a long-time customer and have to leave... contemplating just leaving the trade to see what happens... Short in TNA but looks like it is bouncing... got a terrible entry at the one of the worst spots of the day to short. Lousy read on this one and poor execution by not stopping it out.
We'll see what happens... it has been REALLY weak all day and going short seemed like the percentage play...
Documenting the Journey From Bluecollar Guy Doing a Bluecollar Job to Trading the Markets for a Living
"A man is not finished when he is defeated. He is finished when he quits."
Thursday, August 19, 2010
Saw it, Liked it, Reprinted it!
I saw this at Don Miller's site and liked it a lot. Decided to post it here in case anyone missed it over there.
This is an eye-opener for new traders: what we are up against when we are training for trading the markets. Also, reinforces why I do not use real money while learning the basics...
Its about a twenty minute video but worth the time. Something to think about when you are struggling with setting stop losses, as I do. Just cut and paste in your browser if clicking the link doesn't work...
http://www.ted.com/talks/laurie_santos.html
This is an eye-opener for new traders: what we are up against when we are training for trading the markets. Also, reinforces why I do not use real money while learning the basics...
Its about a twenty minute video but worth the time. Something to think about when you are struggling with setting stop losses, as I do. Just cut and paste in your browser if clicking the link doesn't work...
http://www.ted.com/talks/laurie_santos.html
Wednesday, August 18, 2010
August 18th

I had most of the day to study and paper-trade. A mix of good reads and some good luck.
Some of my best ideas went down as lines on the chart and not paper-trades. It's all the same, whether executed or not. Practice, practice, practice...
There's nothing, short of spending time with my wife on a motorcycle, that I would rather be doing. I truly love this stuff. The thought of doing this for a living brings a smile to my face.
There are notable deficiencies with my method, however. So, I will continue my sim-trading until I get it right.
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