Wednesday, September 17, 2008

Missed opportunities

There were huge moves in many stocks. I don't know what I was doing today. I got tossed around by the market and lost my conviction. I was looking to go long and was expecting a strong reversal. When the market broke down to new lows I changed my mind. I jumped around and traded a lot of different stocks. When the market had double bottom at around 2pm I was watching ETR and missed out on some good bounces in UBB and FLR, two stocks which I have been trading more actively the past two days. I was getting pretty frustrated because I was missing moves and my charts were freezing. I ended the day with $100. I guess some profits is better than nothing since I worked pretty hard today.

1 comment:

The Average Jay said...

HI OB

Don't feel bad I was killed on Tuesday and after three losing trades in a row I gave up. I missed the best action as I closed shop for the day before noon. Keep working at it and stay with the rules. It keep me from over trading yesterday. If I held my losers on Tuesday overnight I would have made a killing on Wednesday but you never know what will happen the next day. I am just trying to stay with the game plan. Drop by my blog and say hello.

www.tradingwiththeaveragejay.blogspot.com

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.