Now, if I can just get out of this long that I got in around 1032 yesterday. Damn… I can't even follow my own forecast. I predicted that Thursday and Friday was going to be a down day, and I got scared and got out early.
Then, I went long thinking that they would rally Friday on fake jobs number. Looks like another down day today. Slap some sense into me Douala.
Love the picture and caption “RDL”. Good analysis. I know the feeling of being burned holding over night. Also I know the feeling of NOT holding over night or weekend. I seem to get burned either way. LOL!
Yes, discipline. I must master that! Not getting caught up in the noise and following my own plan. I spelled it out exactly that I believed the market would go down Thursday and Friday.
What did I do today? I bailed at 1043. I left a lot on the table. I did get in yesterday at 1060, so it's still a profit… but go long today at 1036 was foolish.
I'll probably pay for it tomorrow if we continue down to 1020. Just slap me and call me stupid! LOL!
Leo- I'm trying to play the same strategy. Instead of going long, why not keep a small open short position? This way if the market continues down you atleast had something on the table. I plan to add to my index puts next week if do get a bounce. Some of the GANN guys suggested 1100+ but I think 1080 will serve as the top based on current price action and the similiarities between the 1975 index charts.
Its hard to swing trade this stuff on a day-to-day basis. I've removed a lot of stress by zooming out and simply following a larger scale strategy.
Let's hope for a low volume rally through next week!
Hi Red,
LAST WEEK -I posted several times on my blog that ANY rebound NEXT week should ONLY back kiss a descending channel
Jay
he Red I guess we hit the bottom of the channel now rally up the the top of the channel?
Now, if I can just get out of this long that I got in around 1032 yesterday. Damn… I can't even follow my own forecast. I predicted that Thursday and Friday was going to be a down day, and I got scared and got out early.
Then, I went long thinking that they would rally Friday on fake jobs number. Looks like another down day today. Slap some sense into me Douala.
Love the picture and caption “RDL”. Good analysis. I know the feeling of being burned holding over night. Also I know the feeling of NOT holding over night or weekend. I seem to get burned either way. LOL!
Its hard to swing trade this stuff on a day-to-day basis. I've removed a lot of stress by zooming out and simply following a larger scale strategy.
Let's hope for a low volume rally through next week!
Yes, discipline. I must master that! Not getting caught up in the noise and following my own plan. I spelled it out exactly that I believed the market would go down Thursday and Friday.
What did I do today? I bailed at 1043. I left a lot on the table. I did get in yesterday at 1060, so it's still a profit… but go long today at 1036 was foolish.
I'll probably pay for it tomorrow if we continue down to 1020. Just slap me and call me stupid! LOL!
Leo- I'm trying to play the same strategy. Instead of going long, why not keep a small open short position? This way if the market continues down you atleast had something on the table. I plan to add to my index puts next week if do get a bounce. Some of the GANN guys suggested 1100+ but I think 1080 will serve as the top based on current price action and the similiarities between the 1975 index charts.
I got out of my long around 1060 and went short today. Not sure about going long for next week, but I'm out of my short by Friday.
I got out of my long around 1060 and went short today. Not sure about going long for next week, but I'm out of my short by Friday.