Recap of Trading Day: 2004-06-29
Here are today's results:
Only one (1) trade today.
What a strong uptrend today. It just didn't want to go down. Anybody who tried to get in on the short side would have been slaughtered. This is one of those days when "trend-following" really works. Just when you think it might be over and start to reverse, more buyers step in.
I have to admit though, my confidence is a bit shattered since I had 2 losses in a row, and so I took only 1 trade today. I need to regroup, re-focus and go back to the basics.
I need to work again on my mental game, which is by far the most crucial aspect of trading.
All eyes will be on tomorrow's FOMC meeting, so be careful.
posted by bondtrader at
12:28 PM
5 Comments:
Have you read my ex/rc/ex pattern info? Today was a classic intraday one. BTW I really appreciate the Citations from Top Traders and Trading T.I.P.S. links you have among others. Thanks!
By
camabron, at June 29, 2004 12:54 PM
I can certainly relate to the confidence swings. Mine could surely be plotted as a wildly swinging oscillator. :-)
Just try to keep expectancy ion mind and keep plugging. And remember that you can't win on every trade.
Mike.
http://www.tradermike.net/
By
Michael, at June 30, 2004 5:12 AM
Thanks Mike. It certainly helps when you know you are not the alone during trading setbacks.
By
bondtrader, at June 30, 2004 10:50 AM
Is this blog ever updated? Do you ever let your profits ride?
By
Anonymous, at July 2, 2004 8:13 AM
Yes, this blog gets updated frequently, except that yesterday was Canada Day and I took the day off. And I wasn't able to post my update for the day before. Anyway, I am in the process of working towards letting my profits ride. I don't like leaving money on the table, so I end up taking my profits too early. But I aam working to correct that. Thanks for your comments.
By
bondtrader, at July 2, 2004 9:37 AM
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