Wednesday, June 03, 2009

Markets stalled , closing out my positions. Going to enjoy the nice day outside.

ZION














WFC

















SKF
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1 comment:

Blue said...

Too bad you didn't stick it out a few more minutes to catch the real reversal on the day and SKF short from 43.02. It was big and fast. I was looking for 11.87 to print on XLF to get my SKF short entry, but XLF held Friday's 11.88 low and reversed there. Sometimes the set up looks so clean I don't trust it. They usually push that support lvl a few pennies past the mark, but it didn't happen today.

Nevertheless, flipping SKF both ways is excellent stuff Scott.

All I've been trading are 1,000 share SKF scalps for 7 weeks during this range bound market. I've lost money on only 2 out of 80+ trades. I've got my entry timing down pretty good, now I have to work on my patience with the exits. I tend to play just the reversal probability with tight in the money stops as soon as the trade starts working. I leave the stop in and look for .25 as my first exit point. If I don't get it I just stop out. Typically I get .10 and then stop out. I stick to my discipline thought and keep at it. I need to work on taking the trend trade early on good days as opposed to always waiting to bet against the market.

p.s.
I changed brokers in Jan and have dat trading. It's a huge diff.

12:42 a.m.

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