Marketgeometry

Wednesday, June 13, 2007

Damn Dryer 6/13/2007

Not a fun day. Just as I was seeing if my on the open orders were going to get filled, the doorbell rang. The new dryer from Sears had arrived. They said between 9:30 and 11:30 so I was expecting them to show around 1 but guess what, they were right on time. I canceled all my orders and started to help. They had it in fast but after they left, I noticed that the dryer was just an 1/2 inch bigger than what it had replaced. It took me the next hour to adjust things to make it fit right to get the damn doors back on. The dryer, and washer for that fact, are in a closet. I had to have it setup just right for the wife.
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After cleaning up, I went to lunch with the wife and went to work. Quickly I finished the task I wanted to and started looking at the market. As I had been screaming to so many traders in the chat rooms, you must follow your plan. What did I do? I didn't. I bought a breakout when I have said over and over that I would stop doing that. The breakouts I find fail for me about 50% of time. I break even 20% of the time and make money 30% of the time. Instead, buying pullbacks for me seem to work about 50% of the time. Break even 30% of the time and lose 20% of the time. Much better odds.
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Well - the bottom line is my 9 day winning streak is gone. Time to start a new one.
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The numbers - gross -91.52 net -133.52 shares traded 2000

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