Tuesday, October 17, 2006

Last night was a lousy trading night for me...After reviewing the trades done, I found that I was fighting the TREND. Doesn't make sense, don't you think? Why fight it when the Market still wants to go up? This is just one of the issues I grapple with, as a Futures Trader...Don't blame the method or the signal...Look at yourself first! How many times, have I seen myself, or other traders, saying...Nah, it can't keep going up...just take a SHORT...It's bound to go down...Sometimes the pause in the market proves them right, but the momentum comes back up to hit their STOPS, much to their disbelieve !

05.10pm Just added a link to Brett Steenbarger's Trading Psychology Website. Tons of Articles to be found there...

09.50pm Looking for Aggressive LONG. 3X Divergent bottom.

10.08pm Will be looking for a Failure of 1367.75, to go long

10.17pm Failure didn't happen. But now a 4X Divergent bottom

10.22pm Aggressive LONG at 1368.75. STOP at 1367.25

10.33pm STOPPED out. - 1.50pts. This was a very aggressive trade to go long.

11.31pm LONG at 1365.00. Tight STOP at 1364.50. PRICE going up to challenge last Oscillation Resistance at 1366.50. Will it Fail? Or will it Breach?

11.39pm It failed. STOPPED out at 1364.50. -0.50pt. Retiring to bed...

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