Thursday, April 1, 2010

Thursday Notes - Slaughtered **

Well, it happened.

I was heavy on the retail side of every single trade sequence entry this morning and went 0 for 16, losing $36K in the process.

You name it, I screwed it up.

I was short heavy overnight, added at the open, and then barfed it out at the 10:02 AM high when I simply couldn't take the pain any further.

I then proceded to buy every high TICK confirmation as it told me the market was moving up.  After all, the market was up strong on the day, and high TICKs were the further proof that I needed of continuation.

Yet every time, I ended up entering on the high of the pattern, and when TICK and price both weakened beyond my 1 point concrete stop, I ended up getting stopped out right at the bottom before the market turned back up again.

It was a pattern that repeated itself throughout the day, time after time and sequence after sequence.

Then, whenever I DID have a good entry, I was stopped out by a one-tick probe of the last swing high or low before ES continued in the direction I thought it would.

It repeated again and again and again.

Talk about a head-banging day.

How can anyone ever make any money in this business?

It has to be luck.

Continued ....

** 3:30PM Note ... At the risk of stating the ridiculously obvious, apparently a few need me to tell them to CLICK ON THE "Continued" LINK!  Geesh.

6 comments:

Glen said...

April Fools...

steve said...

It's gotta be your platform. Your 3LB chart must have red and green flip-flopped! Ha!

BirdMan said...

You must be trading from Topeka!

Don Miller said...

Yea, and I just did a Topeka search for Google ... and am I confused.

Janet said...

oh hi Don1, you're back

YM-Trader said...

That's funny Don. Almost as funny as when I had my kitty sitting on my lap today and it barfed up a
giant hairball right onto the keyboard. I was so freaked I accidentally banged the mouse and went long at the high tick of the day. Full load. By the time I picked up the dismembered mouse and grabbed the phone I was halfway to the poorhouse. Only sissies use stops. Spare a dollar?