Today was a very crazy day. I listen to the S&P pit noise all day. Sometimes it helps and sometimes it hurts. Today for the most part, it was just entertaining. It seemed like right off the open today, two traders were buying everything in sight. Soon after 11 est, a trader came in and started selling over and over and over - 25 cars a pop. As soon as he was done, about 3 traders started buying everything in sight before the local traders decided to sell the market. I know the traders receiving orders from outside the pit could be receiving from many sources but when the selling was going on for 3 hours, it all seemed to be one large order from one phone call - amazing.
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Again I gave myself the opportunity to make a lot of money and decided a little would be enough. I need to gain the confidence to hold a stock thru a bumpy ride. So many of my trades would start out where I am plus or minus $20 then I would gain $40 before coming back to break even. This is where I would stop myself out so many times - gains of $10 or 20. but so many times the stock would go to B/E for me only then go in my favor $75. It would then back up again before processing a $150 to 200 gain or more. I made 12 trades today and I could have easily gotten $250 plus on 5 or them where I would have only been hurt once using this idea.
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The numbers:
Stocks: gross + 144 net +111 shares 5800
Stock Futures: none
Other Futures: none
Forex: none
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Tonight is date night again. I hope to post some charts over the weekend. I have missed doing that as often as I should.
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