No time to post anything for the past two weeks. I felt like i could barely find time to do any trading but i guess i did some stuff. Two weeks ago i was trying to figure out how i should manage my trades since the market was starting to consolidate after a decent break down of a rising trend line. After the break down i exited most of my longs and got into several shorts. Then i tried adding some longs after consolidation seemed obvious, thinking if im long and short in what appears to be sideways movement in the market, i could benefit the most since im unsure as to where the market is going. I figure whichever side is wrong wont move against me too quick or i could exit early while holding onto the side that is right. The wrong side shouldnt turn around too quickly since there should be at least a little pressure pushing it toward its target. I had entered AH, CPWM, CRM, FL. Out of the Longs i exited on the break down, only SNDK eventually hit target, maybe that was a good idea...GSIC got stopped out for a 7.2% loss.
Going heavily short after a supposed break was probably a mistake for me, i should have known that it could easily go sideways instead of further down. Turns out it went sideways.
After over a week of sideways movement, i went ahead and exited AH, CBK, CPWM and CRM since they were struggling to move to their targets and i kept FL(long) and NM(short) since they were moving very well.
Recently i entered KH, RIMM and CTRP but then i soon dropped RIMM cuz i realized i skipped over the fact that it had its weekly 200 just in front of it for resistance. Today im holding CTRP, FL, KH,NM and trying to still get into SRI(long) after missing its entry yesterday but im thinking it will leave me behind since the market is starting to push up.
Im thinking i could be long and short when the market is sideways, but just trade with the market when its in a solid trend. I just need to make sure i have patience before calling a solid trend......when in doubt, i will go both ways.
Before the close today i tried to enter into two more long trades, CEDC and ZEUS, but my orders werent making it through.....some kind of "internet or server problem", i blame it on TOS cuz the internet is working great for me. I will try to get into them tomorrow with limit orders and if not i think i would keep track of them as if i entered. Looks like the marke is going to continue its uptrend. Currently holding FL, KH longs and CTRP,NM shorts. Looking for late entries in CEDC, ZEUS and SRI.
No comments:
Post a Comment