Tuesday, February 3, 2009

Day One--Trading for a living

I would have posted last night, but I hurt my finger trying to fix my wife's treadmill and it was difficult to type. I'm doing better now, and I can type once again. Thanks for all your kind cards and flowers.

Yesterday was hard for me to trade. Fortunately I had a trade go my way right off the bat for a 1R gain meeting my target for the day. Unfortunately, it was hard for me to take other trades I saw because I didn't want to lose my "salary". Here's a pretty picture of my day in trading on DIA:

I was on the fence about fading the gap after the open, but the market seemed to be recovering it's losses from the open so I bought and held until price reached the 20 period moving average. Right after I sold there was a decent opportunity to go short, but I was too happy with my gains and I passed it up.

The only other opportunity I saw was the "bear flag" near 2:00pm. In my opinion this was the best trade of the day. A short there would have quickly made its target.

So far so good.

No comments: