Wednesday, October 29, 2008

Wednesday Notes - A Step Slow

1:48pm It has often been said that 99% of work is simply just showing up. Yet every so often, you have one of those days where you're simply not at your station during the prime entry times. Such has been the case for much of today at this end as sleep, restroom breaks, and non-market priorities kept me away at key turning moments ... especially during the pre-6AM gift of an ES pullback to sub-920 once the DAX finally lifted off a prolonged consolidation phase. And actually, most of the solid action came in the overnight session as the early post-US open oscillations were much shallower.

And as is often the case under such circumstances, I found myself scrambling and pressing a bit trying to capture pieces of the textbook morning-after-trend oscillations, and the result of missing the prime entries has resulted in a subpar +$5K performance heading into the FOMC decision.

I also think the month's efforts are catching up with me, as I continue to note a lack of keen focus and concentration over recent days, and a poor transition from defense to offense when needed. And we all know that trying to trade FOMC action with a lack of full concentration can be deadly.

3:37pm Not much better in the afternoon, although I stayed out of trouble and nudged the pathetic chip gain to just over +$6K by catching some of the post-3pm consolidation break and extension.

Clearly not one of my better days, but a win is a win and tomorrow is another day.

We'll open the PalTalk room again tonight at 6:30pm ET and I'll be there around 7pm. We'll keep it open so long as there's interest. If it's closed at 7:15pm, I'll take a nap instead :-).


YM-Trader said...

Hi Don,
I tried the Paltalk room tonite for the first time. Signed the confirming email. Went to the room several times after 6:30 EST and once about 7:02. But the message said the room wasn't opened. I got to the room via the link at your site. Is this a Paltalk glitch or was the room really closed when I tried?

Don Miller said...

We're here. Look in the Business/Finance section and Trading. You may want to try again not using the link.