Sep 9, 2008

Frustrated... but happy

I made money today so I'm happy. I'm frustrated because A) my internet connection was down till noon or so and B) I traded like a scared puss. Shorted GDX, OI, NBL and CCJ. CCJ ended up losing me money but it would've been a nice gain had I traded on a later setup. Again, traded like a puss.
Then, with NBL and GDX I exited when I really had no reason to. Ok, with NBL I was up more than a 1 point gain and I was happy but the stock was nowhere near the fib. ext. GDX I just flubbed and didn't want it turning against me. I saw so many stocks today that were just nice short candidates... seems like every stock on my list had a great entry that I missed or just didn't even look at because I had made 4 trades in about an hour's time.
As for charts... here they are below. It's almost too painful to write out so just look at the arrows. Black is where I entered, red where I exited and blue is where a trader with bigger cojones than I today would've gotten out. So much money left on the table... this should've been a killer day - even starting at noon.




TraderAm said...

Good that you made money though. I still wondering of what should have been with PBR :-)

Finding Sept tough at the moment.

Tom T. said...

traded MYL, ABX for losses but if held until end of day I'd be smiling right now. Also, I spotted IT after these two and did not want to commit to a third position - too many candidates today - LEH, why was I not in this?

bl said...

You can do it!

OONR7 said...

traderam: you'll find your groove... always do. I had three trades loaded up on my workstation and I pulled the order at the last second: PBR (1:45 bar), CCJ (1:15 bar) and CAM (1:15 bar). The missed CAM trade kinda stung.

tom: ABX (2pm bar) was a beaut... did you consider getting in there? I agree with the abundance of candidates... I think that's why I stuck with what I had. Didn't really think I'd find much after 12pm and didn't want to chase stocks either. I just hope this kind of action continues.

OONR7 said...

bl: thanks... I'm certainly going to try.