Review of last night's trades. Looks like PRICES failed after I logged off. My last trade to go SHORT was early (in fact, only just). It's just one of those. If the TREND is down, sometimes these pull backs will be strong, and it's always hard to determine whether your trade will go in your direction fast, or just churn itself higher, for that little bit more. That's why, it's important that your trade is non-discretionary. Because, choosing where & when to short may just lessen your chances of a big move. You just have to take each trade that comes with the signal. Period. This would greatly improve one's trade winning percentage.
Looking at my Important Observation posted from yesterday's "review of last night's trades", the concern I had has just taken place - Leg 1 of a Bull Break (In Prime, on the TREND chart). Let's see what the market action will be like on Monday, as PRICES go back up, to possibly give us a Leg 2 of a Bull Break.
Saturday, October 28, 2006
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