Friday, February 15, 2008

Daily Summary


I made a bunch of mistakes which cost me some good profits. I had 50 cents profits in both HRL and SJM on my 300 share positions but ended up making nothing. Most of the time when I let my trades run they come back and I lose my nice profits. Then the trade that I should hold on I take profits too soon because I was afraid it might do a HRL and SJM on me. Look how CCU ran.


Anonymous said...

Can't tell from your charts what moving averages you are using, but I found when a new price bar is not anchored (i.e. touching) the EMA(4), then the price is going to reverse nearly every time.

Looking at the reversals in the charts, they occurred each time the bottom of the price bar lost contact with the moving average.

Anonymous said...

great post OBAT.


OBAT said...

Blue line = 5 sma
Red = 20 sma
purple = 50 sma
orange = 200 sma

theWild1 said...

I experience the same problems all the time too. I let it run to long or take it out to short.

About Me

I have been trading for 5 years. It took close to a year before I became profitable. I find that I am improving gradually each year. My method of choice is scalping. My edge lies in tape reading NYSE stocks and staying on the side of the specialist. That is the method I learned when I started. As I build up my capital I will try new styles and trade new markets. In late 2006 my trading hit a rough patch after the introduction of the NYSE Hybrid system. For most of 2007, I have been on a search for new strategies that would help me adapt to the market.