Monday, November 17, 2008

An Uncooperative Market

I remember the days when a tenth of a percent was considered a trading range. Today the Dow was bouncing between 8500 and 8375 and that was considered "range bound". The market made it difficult to find clear entries and exits for me today. There were some really good setups, but I got too jittery and didn't allow any of my trades to develop too much. I made 1.30R today, so it wasn't terrible.

Many stocks spent the day stuck in a range today, so I decided to trade a couple of Bollinger Band squeezes.
AOC started nicely but I raised my stop too soon and broke even. It continued higher and I missed out on a couple of "R" in gains.

I traded AMZN going the opposite direction (I shorted it). I had a good gain on it, but it turned on me (I ignored the signs to sell early). I made .50R on AMZN.

My main goal right now is to preserve capital while I continue to learn how to exploit the edges I see. My goal remains to crawl back to break-even returns for the year by the end of 2008. I'm still down about 15% YTD, so I've got a ways to go.

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