I'm such a wimp

I was too wimpy to take a trade this morning that had really good odds of succeeding. $113.00 has been serving as support for SPY for the last couple of weeks, and I knew a break beneath it would result in a lot of people who are long the market getting stopped out.

But I still struggled taking the trade. I should have had an order already in and I was preparing to create one when price broke through $113.00. I tried several times to put in a limit order with no luck. Finally, my order triggered. When it did, I was more than $1,000 away from a decent stop. I started second guessing my trade and finally just quit the trade with a tepid $60 gain.

It's frustrating when you have an easy $1,000 (or more) and turn it into a small win or worse--a big loss.

I saw an great Elliot Wave developing on the one minute chart, and I still was too wimpy to get back in and instead took a simulated trade. Of course I made lots of money on that one.

We'll have to see if today develops into a decent trend day. It looks like we've got good odds of that happening.