Monday, July 9, 2007

Today -150$



I've had a bad day today, looking at the day I made only about 3 mistake trades out of 14 trades, which makes me think I improved, but still I'm not exceeding my expectations, which is trade my method and always make money.





The mistakes today consisted of not following my method, which manifests itself as one of the trades I took, was after the trend line broke down, I took a long position to try and stay with the current uptrend, and that was a mistake, my trading style says that after a trend line is broken, I sell the current position and short / buy long to the opposite direction.


Right after mistake #1 I took a short too low, which I then decided to stop before it hit my stop loss (-10 points), and the trend kept going down right after I covered my short, it seems like one mistake leads to the next, tomorrow I'll try to avoid both.





This is how the market looked today :



My method, in paper trade, produced only 9 points today, which is unusual to my method, because usually it produce at least 25 points, I guess it's just happened to be a day where the market didn't move so much, and deceived my method a lot (false breakout of trends etc.).
My method usually means going with the current trend, get in sync with the market, and when it catches the market, it should make me nice profits.

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