Tuesday, February 3, 2009

Day Two--Broke Even


The market provided several decent trades today. Unfortunately, I had a hard time taking the trades and sticking to them once I took them. I ended the day even.

The first trade I missed was a small gap that filled in 15 minutes. The second was that doji right at the 200ma. I missed that one.

I took the third trade which I saw as a big bear flag (it didn't go that way). I had a small target at the lows of the day and missed it by a few pennies. @#$$#!! (pretend cursing).

I took the first bollinger band breakout at about 1:30 and held on but then got all wimpy at exactly the wrong time. I should have seen that momentum high for the day (gray arrow) and expected price to go higher. At the same time the 200 moving average was helping out the 20 moving average provided and excellent supporting "intersection" of moving averages. But I had made up my losses for the day and was satisfied with that. Stupid.

Price went on to make another high (with a momentum divergence), but I was out, and I didn't feel like playing anymore. I went downstairs and worked on my wife's treadmill some more. It's still broken.

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