Doug Green

I was up late working for the day job and am getting a late start this morning.

1. A little before 8am we looked to be heading for a B short on the long term charts. We also have a double top at 1137. We got the small trigger roll on the short term charts right at a 1:1. But by this time, price had moved past the double top making this no long a B candidate, but rather either looking for an X or an S.
   • I'm second guessing this trade. I missed the B read, it was really an S. By the time I wrote this blog entry two minutes later I had read it correctly, but I missed it in live trading. I also missed that we were too far into/past the big triggers for this to be a good trade. And last I missed that the long term trend we're still showing long, especially that the 1152 macd had just switched long. I had been at my desk for less than 30 seconds, and I've sometimes struggled with missing good trades because I got here late verses having enough time to adequately analyze the trade.
   • My entry was 1136.50. As soon as I got into the trade, I started seeing all of the above, and I liked the trade less. I put my stop 1 tick above the double stop (remembering I use Ninja's "Vol Trigger" for stops, so in essence this is 2 ticks above). I also tried to close this in the sideways drift for -1, but didn't get filled. As it turns out I got stopped out at the very high pivot.
   • Lesson: get to your desk early, no matter how good the setup looks, spend at least 5 minutes at your desk before taking any trades
   • Also, I'm going to stop using the Ninja "Vol Trigger". I continue to get stopped out at 1 tick worse than what I'd really like.
2. I had a busy day at work, and this was the only trade of the day.