Quick Review Post for Tonight.

Thanks to Yaser for commenting and trying to get me to see the light and to more effectively use the pivots. :-) Check out his blog to see some great reviews and trading ideas. If I get back to trading stocks, I’ll be on his site quite often.

I’m sorry to have to admit that I was “watching” too much as we came down to S1 and my famous 1509 price area I have mentioned before. I almost just bought it, there should be at least some bounce there right. I should have, but did not. I did not even get in on the quick “retest” a few minutes later. I saw it but had a mental block about taking it. I waited for a little show of strength and took the next entry at 1510.25

I needed to step away for a few minutes. So I get a bright idea, Take my first half off and place the stop for the second at BE and don’t worry. Well there was no worry, the market came right down and took me out took me out. To make matter worse, the next entry was missed by a phone call.

Got the third entry – Long it is. After price seemed to struggle to get through the potential Double Top at 1513, I protected the first half at 1 point after a quick pop higher and a slam right back down. Out at BE for the second half.

Unfortunately I only frustrated myself today. Saw too much opportunity and just kept messing up. None of my winners ran more than 2 points, or I managed to choke them out before they did go farther. Then I'd try to let the next one run and get stopped out for even less.

I need to regroup....

I'm trying too hard, filtering too many good entries, and miss managing them ones I do get into. Mix in a few losing trades (a couple that I clearly should not have taken) and I have a pittance for what I could have captured today.

Trade Wise, Trade Well
John