Hello Traders,
Today was a blow out for me -28Ticks ($350) pretty much giving back all of yesterday's decent gains. There isn't much to say about this mess today. I couldn't get on the right side of the market until 2pm when I got a decent short entry. Of course I got out too early and ended up getting sucked into another short which was a stop out. I should have been long at that point. But again, blew an entry. The book was so light at points, and the action so whippy I got headfaked into losing money all day.
I'm not even going to talk about the trades because I didn't have a decent winner until 3pm. A winner I should have let run for 4 points! You can see the entries on the chart. Go ahead check them out, you will be asking yourself "What the hell was he thinking??". I'm obviously in a bad mood. I made mistakes left and right today. Its tough to trade these FOMC days, they are best left to the pros, And by pros I mean those with 25+ years of experience!
Overall, I'm not feeling too bad about the losses, its not like I blew up the whole week. Now that I think about it, this is the first losing day I have had since I started the blog. So I'll come back tomorrow with a fresh outlook and a few lessons learned. Odds are about 100% I won't trade the next FOMC meeting! Thanks for reading guys. Congrats If you made $$ Today. See you all in the morning
-Nate
Hang in there man... Trend days are tough if you are not on the right side.
ReplyDeleteCHOP will kill you Danielsan. Remember, when in trend take trade. When in chop stay away. Go for green tea. Do yoga. But do not trade my son.
ReplyDeleteHa, thanks for the comments! thats basically what killed me the chop, and betting against the trend. I should have been taking shorts off overbought conditions and longs off oversold. Like I said tho lessons learned. thanks for reading guys!
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