Friday, October 12, 2007

Ready to rip my eyes out......

Trading today is pure torture if you are a momentum day trader. To look at the chart you would think "what the hell? Looks good to me, up 66 - no problem". I would agree if I bought at the start of the day, put a position on and walked away never to do anything until the close. But the herky, jerky nature of the moves are excruciating. Pure water-torture hell. I have watched the futures move to the highs established during the doldrums - a 47 tick range in 1 1/2 hours....argggggg. So, how did I trade this you may ask? I got chopped on two trades and then did what I should have done at the start of the day - put a long on and just sat and watched. Terrible process, but it is what it is today. Results to come.

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