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.
Posted by chaugner at 2:01 PM

6 comments:

  1. AnonymousFebruary 25, 2010 at 3:59 PM

    I like your title to this post...

    like...I mean really...

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

    ReplyDelete
  2. chaugnerFebruary 25, 2010 at 4:01 PM

    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."

    ReplyDelete
  3. chaugnerFebruary 25, 2010 at 4:03 PM

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

    ReplyDelete
  4. AnonymousFebruary 25, 2010 at 4:31 PM

    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.

    ReplyDelete
  5. chaugnerFebruary 25, 2010 at 4:51 PM

    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.

    ReplyDelete
  6. samamehtaFebruary 26, 2010 at 1:07 AM

    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.

    ReplyDelete

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