Tuesday, March 10, 2009

Tuesday Notes - No Complaints

4:30pm Chalk today up to the investors and swing long traders as the market finally decided to give them a few crumbs falling off the trading table which has been set for the last nine months or so. At this end, I spent much of the early morning probing shorts on the gap and surge, before focusing long for much of the rest of the session ... which was tough given the low number of acceptable-risk wholesale entry points.

The net result was essentially a wash (+$1K chip gain but barely worth mentioning) on a day where (1) I had to be away from the PC during a couple of peak times (including the midday surge ... my only regret for the day), and (2) where my mind was often wandering to thoughts of my mother who underwent hip replacement surgery this morning at the age of 81.

And so it was that my focus and interest were both less than stellar, which is often the recipe for a disastrous result ... especially in a run-away market. Yet the mind and focus must now sharpen as we turn to ... repeat after me ... possible high-probability morning after trend day oscillations where liquidity providers typically make up for losses incurred on monster trend days.

All things considered, I'm actually not sure why I too didn't incur a loss at this end, although the VIX and TICK both combined to keep me away from going for short reversals, which helped keep me out of trouble after the early short attempts. I was certainly looking to load up on any double bottom on the 2:50pm retracement, but all we got was a single spike which left me settling for small bear trap extensions on the turns back up where I don't normally size as strong.

So call it a good day for investors and traders with the mental dexterity required to recognize today's momentary change in pace.

And considering that 48 years ago, my mother gave this trader his first breath (after having a devastating still-birth two years earlier ... lest I wouldn't be here), I shouldn't complain about a darn thing today.

Thanks Mom, and I wish you a speedy recovery.


RexVulgaris said...

Best wishes to yer Mom.. my Ma in Law had emergecy hip replacement at the age of 87 last summer after being knocked over at church.

A Tough time and the surgery is a worry, but she's doin great now. Make sure she works hard at the post op esxercises and trust she will be fine.

Thoughts with you.. and ferget tradin fer a day or 2.. more imp things


Unknown said...

what is a morning after trend day osciallation??

Anonymous said...

My first post here, thank you for sharing your trading journey.

As we engage in a mental game, emotional upsets and distractions are not prone to help us. I am happy to see you cleared the day with a chip gain, even if it is small. We will take a small winner over a dayin the red anytime.

Wish you and your mother the best.

Don Miller said...

Thanks Rex, Stone.

Brian - If you do a search of the blog, you'll see a ton of posts on the topic.


Charles said...

Don, up $1K?? sheesh, pathetic...maybe you need to trade forex or something ;)

So is today your b-day? Your post said "next tuesday", which technically would be a week from now...maybe you meant to say "this tuesday"...well anyway, if it is today, HAPPY BIRTHDAY DON MILLER!

-nit pickeR

GonzoRadio said...

Only peeping out of the lurks to wish you a happy birthday Don, and your mom a speedy recovery.
And while i'm at it, thanks a bunch for this great reading/studying material, a big help for me!
Today was a very hard day indeed, even when one is focused.


Adrian Woolford said...

Don, i read your blog everyday. This is my first comment however. Its the only blog i read by the way. Just want to wish you a happy birthday. Best wishes to your mom also. Keep up the good work, you really inspire me to trade hard and focused everyday. Being a college trader i have no contacts with other traders yet i feel this blog mentors and shapes my mental game and for that i thank you. Enjoy your day!!!


Jorge said...


A speedy recovery to your mum (she gave birth to a poker player, so she must be a tough cookie, I'm sure she'll be fine) and a happy birthday to you, enjoy your last two years of youth ;)

Congrats on not getting crushed today (on a day like this, considering your trading style is truly a feat).

Best trading,


Unknown said...


Best wishes for your Mom. I hope she has a speedy recovery. My day was similar to yours. Probing for shorts in the AM and finally realizing that there was not going to be a huge sell off. Then I looked for longs but the ship had already left without me.

Take care,

steve said...

Happy Birthday and wishing a great recovery for your mom.

I also did very little today, with only a few trades in the IRA account. Distracted by taking the car to the "collision center".

leon t said...

in case you want to see what your mom underwent. i once posted a question concerning your other life as a tutor. but maybe the post did not go through. let me know if you object to questions about trading. hard to tell what's allowed or not. good luck to your mother

E said...

Hi Don and all,

Best wishes, for the "important things"; you probably won't read this tonight as it's now past your bedtime at your age. LOL

I saw it coming yesterday but still not the same as making the right entries and exits in real time trading in a one way elevator.

A 48 point day just doesn't come along often enough to have the same feel.

Never about any one day as you say.

Bottom in?

Still gaps above and one below now.

Happy Birthday, get the fire extinguisher for those candles !

Severino said...

Happy Birthday Don.

I will say a prayer for your mother’s speedy recovery.


Don Miller said...

Thanks all.

Lots of years left (I hope) for both of us.


TC said...

Happy Birthday and may you be blessed with many more years of fruitful trading!

nate said...
This comment has been removed by the author.
nate said...

My best to your mother. And a happy birthday to you. Thanks for the time you put into this journal. It is WONDERFUL!

Peter Coussement said...

Happy 48!