Monday, March 1, 2010

Great Entry No Patience.

The longer I am in a trade, the more I start to think it's going to fail. Not sure if this makes any sense, but I guess I've been there so many times. OTOH, I've never traded entries that are this good, ever. This entry is awesome. I waited for confirmation and placed my entry aligned with other time frames and internals. I might make a list of how to think while in a trade to take my mind off of the amount of time I am in a position.

It will go something like this:
~Amount of time doesn't matter
~cycle observation around charts of 2m, 5m, 15m, TICK, TRIN, VIX, VOLD, ADD, 100tick chart
~check on reasons for entry continuing to exist
~rather than killing with a market order, consider tightening target
~only tighten stop loss to under prior pivot on one of the charts – choose one, even 100tick
~do not make stop loss arbitrary
~repeat this list now.


  1. I hear you. Had a few great entries today and NO patience. Also kept trying to short an up market?!

    Anyway, the whole sorry story is here and of course later on at the blog.

  2. Midday now and nice weather out in NY, I'm getting out. volume low too. I'll check your blog.

    I'm starting a stack of index cards to keep me focused in a position. But that slowness on the rise was really freaking me out, I kept on picturing a turn and a loss. I have to stop doing that.

  3. Sounds like a good idea. I need something similar to keep me focused. Enjoy yourself!