Monday, June 22, 2009
6/22/09 A new day.....
Today was a pretty good day for a trend day. I learned something about reversion to the mean trading. I need to stay away from trend days. I got back to BE, but it was hard.
2 things. One, dbl tops and bottoms are my thing. And I learned today that when you enter you can then set stops tightly because by the nature of the pattern if it breaks then it wasn't the pattern. Good stuff
The other thing was that I really struggled to get back to BE and my last trade was designed solely to get back to BE. That was a bad thing because the risk:reward wasn't there and it wasn't really a good trade. I got lucky, but I shouldn't have done that.
The market did finally crash today as I have been thinking it would. The bear market is back folks. Get short, hold on, and make money.
Trader X
2 things. One, dbl tops and bottoms are my thing. And I learned today that when you enter you can then set stops tightly because by the nature of the pattern if it breaks then it wasn't the pattern. Good stuff
The other thing was that I really struggled to get back to BE and my last trade was designed solely to get back to BE. That was a bad thing because the risk:reward wasn't there and it wasn't really a good trade. I got lucky, but I shouldn't have done that.
The market did finally crash today as I have been thinking it would. The bear market is back folks. Get short, hold on, and make money.
Trader X
