I did a lot more trading today. Unfortunately, it was more in my retirement accounts than my day trading account. I do not know how much I should trust this rally. I have a couple of swings on but most of them are 1/4 to 1/2 positions.
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I am still trying to figure out a little different way of trading the YM's. Again I did not have the guts to pull the trigger but I watched in detail most of the trades I should have generated. I even spent the time in real time going thru one of the trades with another trader. Hopefully I will this will give me the confidence I need to start trading more. The trade came to one tick of being stopped before making a profit of 35 YM pts.
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I was happy I sat on my hands for most of my trades today in the retirement accounts. I need to do this more. It paid off big time in that account. At no time, I was over 50% invested there and I still made 2.2% today.
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As I stated a few posts ago, I am going to try to stick more to currencies and YM futures. I need to trust the methods for each. Other than the Big Mouth stocks, this will give me a much smaller set of things to look at.
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I messed up a Forex trade badly. I got a signal from a service to go long AUD/USD at around 88.00. I woke up late and got in at 88.25. After watching the trade go back and forth for 3 hours, I sold it for a small loss. Within 30 minutes, it started running. I tried getting into the EUR/USD and just didn't get filled. Again my ideas or alerts are right but my execution sucks.
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I may post charts later tonight. I am long a swing in XHB and in my retirement accounts XHB, AKS amd SMH.
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The numbers:
Stocks: gross + 67 net +63 shares 400
Stock Futures: none
Other Futures: none
Forex: gross -75 net -80 5 minis
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2 comments:
Too bad on the Forex trade. That's one of my biggest problems with that market. I need to go to sleep at some point.
Hi :
Nice blog. Not into forex though ...
Regards,
Tony Chai
My Options Trading Blog
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