Thursday, September 18, 2008

Unprepared for the volatility

Today was a wicked day with wild moves, but I was fighting with a loss for half of the day and I was trading scared. STT had $30 ranges. I saw the stock earlier on my TI filter but didn't watch it. Later on I see it down like 25 bucks. My esignal has been freezing constantly today. I should have an esignal indicator because it called the reversal of the market. My charts froze for almost the rest of the afternoon after the market made the sharp V reversal. I am looking for another charting service. Any suggestions?

Even if my charts worked perfectly and I do an honest assessment of myself, I probably would not have the guts to make good money today. I feel something is off with my trading lately. I don't know why I have been missing the out on this wild volatility. I ended the day with a measly gain.

2 comments:

The Average Jay said...

Try Terra Nova I use them and I never have a problem.

tradingwiththeaveragejay

JMJAtlanta said...

Is it me, or the market?

Hopefully you've been keeping up with what is going on in the market. The volatility is much higher than usual.

So can you say that your problem is you? Perhaps the agreement between you and the market has changed.

When the market changes, perhaps you should stand aside. By all means watch. You may learn a technique that is profitable. Now you have a new arrow in your quiver when the market meets these new parameters.

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.