|
PureBytes Links
Trading Reference Links
|
I thought I would try to send this while the trade was still some what
fresh in my mind. As many know I had been spending some time watching
Yahoo. At some point my "intuition" told me that $68 was it here a week
or so ago and had close my long position and left my short position. It
seemed that I was siting here waiting and watching for an opportunity
with Yahoo.
I had heard that Ralph Alcompora had suggested shorting TDW several
weeks ago. A person I could at least trust a little. I first noticed TDW
near $49 and and watched it drop to $42 near the bottom of the channel.
I continued to watch it rise back up to $49. I took my first (last Wed.)
short position of 50 shares at $48 and then the next day another short
position at $45 1/16, another 50 shares. I picked up another 50 shares
at $45 3/4. Total 150 shares at approx. 46 1/4. There were several times
I thought and just about did cover my short position. (I had done this
before in the past making a small $75 gain and then two hours later see
the price drop by 2 points on 300 shares.) So I had been there before
(experience) and my trading system had not given me a daily sell signal.
On Monday it had even gapped up and moved to almost 46 1/2. I was
showing some patience (maturity in my trading). The price later
collapsed and I covered at 42 15/16.
I am disappointed in the sense that I could of waited for a much larger
gain. I did jump back in and picked up another $40 so my entire gain was
greater than $500. I at least felt fulfilled after the $40 gain. I think
I would of been frustrated if I had less than the $500s. I guess I
needed the mental victory. I have taken one step forward in my trading
maturity.
The one thing I noticed was that the doorway that has greed on one side
of the door frame and fear on the other side of the door frame seemed a
little wider this time. I also noticed that as I began to struggle with
the idea of covering when I did, I didn't stick to watching the
indicators. At some point the fear of losing this nice gain, clouded my
judgment. As time goes on (experience), I hope to continue to mature in
my trading. I will say that getting back to the gym and working out, as
well as my weekly commitment to studying technical analysis, is helping
me get my head back into trading. I just need to pace myself, to be
patient and to continue to adjust my life style to nurture my trading
abilities.
Harley
|