March 6th

I spent most of the day mapping volume and price for the SKF. I actually had an enjoyable day, not really focusing on trading but just watching and plotting lines. Thinking about what the price candles actually meant in terms of buying and selling and what volume was doing in relation. It was good training and a very

easy pace. I managed to get in four trades, each of them shorts and each of them for gains before running out to the bank and to Staples around 2:45pm. I completely missed the EOD dropoff in the SKF.

4 for 4 , 100% win rate. $2.10 per share gain.

I really liked this so I thought I'd throw it in...

I am a fan of Brian Shannon at alphatrends, as many are. He had this as his inspirational quote of the day and I really liked it so I thought I'd throw it in here so I would see it everytime I scrolled back through.


Friday, March 06, 2009

Panic
Fear cannot be banished, but it can be calm and without panic; it can be mitigated by reason and evaluation. ~Vannevar Bush
Posted by Brian at 3/06/2009 05:50:00 AM
Labels: quotes

March 5th

Wow, that was some session. Talk about the market vomiting all over itself!

I had some early success, trying to focus on riding the momo train and not trying to predict reversals. It seemed to work ok. I found some trouble thereafter, I was taking Day-job calls, not being attentive, and damn but I didn't try for a reversal where I hadn't confirmed one. It really is a dysfunction with me. I had to do some day-job reports so much of the afternoon was spent with the IB off. Toward the end of day, once I signed back on, I focused on NOT calling revesals and tried to focus on playing what I actually was seeing, not what I was guessing was going to happen. This seemed to help and I made a recovery, finishing ok.

Same thing today though. I am drawn to predicting reversals on strong moves. I do not let my winners run. But, as I've mentioned before, these are patterns and with enough work, I feel I can correct them. We'll see.

Not that I didn't know it already, but I am definitely not a natural born trader. I'm going to have to really work at it.

9 for 12 winners, 75% success rate. Net gain of $1.01 per share.