Monday, November 24, 2008

This is getting old

I was up a thousand bucks for about an hour today. I gave it all away and added more. Down 1.24R.

I struggled with several trades that were going my way early on. I felt like we were in a trend day so I wanted to hold on instead of taking profits early. Things didn't go my way and I ended up breaking even or losing on most of my trades.

One of my positive trades today was CBST.
CBST had a long period of consolidation and a tight bollinger band squeeze around 2:00. I thought the stock would shoot up a bit more than it did and I sold it as I saw the general market start to falter toward the close. Of corst CBST went on to finish the day near its high.

MVL looked to me like it had a nice bear flag setup in the direction of the general market.
It reversed and stopped me out and never made its "target".

My trade in POT was just stupid.
For some reason, I gut feeling that shorting POT was a good move. There was no real reason other than my "feelings" and as usual, the market rewarded my lack of edge with a 1R loss.

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