I had a feeling that we’d go all the way back up and retest yesterday’s highs. Here’s what happened after the August 8th FOMC announcement: Notice the huge selloff and the retracement before heading lower. Yesterday’s highs was at 12680, so I’m expecting us to move up to near that level or even break it [...]
So, I lost about $450 playing $2/$5 NL in AC this past weekend. I played well, but I played too long on that last day…about 16 hours to be exact. I would say that I dumped about $800-$1000 in the last few hours of play. Next time, I will limit my hours of play to [...]
How many times have we seen this setup?
So, we’re getting pretty close to the ambush level on the daily chart: Not to mention that the McClellan Oscillator closed at +147 yesterday. After today’s close, I’m sure that the McClellan Oscillator will give us a sell signal. I’m not sure what I’m going to do just yet. If anything, I will wait until [...]
One difference that I’ve found in laying down a monster in poker versus dumping a loser in trading is that I find it very rewarding when I make a great laydown. As a matter of fact, it brings me more joy knowing that I’ve made a great laydown versus taking the easy money. In trading, [...]
I’m still here. Still trading. I will talk about Black Wednesday after I make some of my money back. As bitter as I am about what I did, I’m trying make sure that I don’t make the same mistake again. Ever. Not sure how I’m going to make that happen, but I know that it [...]
The comments are getting ridiculous, so I’m gonna moderate them until the donkeys leave my blog. I can see the ip addresses of people commenting, so I know when someone is using another person’s name. Looks like most of the comments were coming from one ip address: Author:David (IP: 65.114.23.4 , 65-114-23-4.dia.static.qwest.net) Author:Sam (IP: 65.114.23.4 [...]
I’m heading up to Atlantic City to play some poker for the weekend and to clear my head. The markets did the dirty on me on Wednesday. Or maybe I should say, I did the dirty to myself. It was the lowest that I’ve felt in my trading “career” to date. It’s two days later [...]
Looking for a move back up to the recent highs near 11960.
Yup.
Jesus christ. This action is crazy. I think I’m gonna have to stick to one contract here with a wide wide stop. If we can go up and down 100 ticks in 15 minutes, then 20-50 tick stops are not gonna be wide enough.
Eekk! That was ugly. We filled the gap. Unbelievable. I’m gonna hold tight to this last contract and see where this thing goes. Stop will be above the 60-min bar high.
I may short 1 more contract, then scale out, starting at 50 ticks because nothing is ever certain. There’s a “small” chance that I could be wrong.
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