Thursday, February 25, 2010

I mean really ....

This market is impossible to trade unless you take your profits after a 10 point (mainly overnight move). Some may get lucky getting some of this run on either side - I am not one of them.

This truly is insane. In the past 2 weeks I finally got my confidence back because I had some great entries on both the long and short side - positions ended up with nice profits but I was not willing to let it go after 10 points - not greed but trying to trade a proper swing. Its ironic but my P/L over the past weeks is pretty much zero (besides the commissions) since everything ended up stopping out at break even - lol

Regardless of those frustrations - I am quite confident again and feel a lot easier taking positions then before. Patience is a virtue. As I am slowing down with work starting next week I will finally have time to dedicate towards this blog again - I hope you all are still around.

6 comments:

  1. I like your title to this post...

    like...I mean really...

    Today reminds me of, "GS is doing God's work."

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  2. had just posted this one Evil speculator ...

    "today really is amazing I have to admit. Whenever the market comes to points of big volatility its the sign of 2 things, a bottom or just the last grasps before a big trend change becomes apparent. I am not sure what it is ... after a run from 666 to 1150 this may actually be a bottom, while on the other hand, its gone too far for too long and this is the last BIGGEST trap we have seen for the bulls."

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  3. I am honestly speechless, not for not having made any money for some great entries (ok kicking myself a little) ... but for such unpredictability.

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  4. This was an eye opener for me really. Just in utter awe. Just, wow.

    Another one to put in my "Amazing things I've witnessed in life" list.

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  5. lol I am on my third bottle of wine tonight (work related) and I am 100% with you ... just total awe, this day will definitly go down as "one to remember for 2010" just do not know the context yet - either the last bear roast or the last bull attempt.

    Price action says 99% bullish ... EURUSD really delivered today and should finally mark a bottom at the 62.1% level here (daily). If that really is the case we have seen a major low this month and are on our way to retest the all time highs in the next 18 months (ok maybe thats the wine talking)

    Take a look at tick today. -900 vs +1200 - have to go back but I think the highest tick in 10+ days.

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  6. glad I am not alone. was short, cashed in my short, reente shrts at 38 50, 78 togiv up all gains

    almost all blos are now bullish. except attila.

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