Thursday Log – Sliced and Diced

Too many trades to critique today as I started strong, got caught up in the chop and didn’t play the channel as well as I could have. I had a couple of emotional trades today after a “tweet” called out buying / selling programs and didn’t trade what I saw. Instead I traded what he saw. It’s interesting to see what others are saying about their bias on the market but in the end, I must make my own decisions. In the future I’ll be more conscience of this fact and write down what I see and trade accordingly. Result: -12

This market has been very tough for me to trade this week. I’ve been caught in bad positions more than I care to acknowledge but I must review and learn. Maybe it’s the end of month volatility that is throwing me off this week’s game? I’m having a difficult time getting in sync with the market this week but becoming familiar with recognizing my “feeling” of being out of sync productivity wise during the trading day.

Stops were very good as I did not have more than three point losers. That was a plus. Also, I was “experimenting” with getting back on the horse after a loser and taking either the same or different position. I’m working to minimize the fear factor after experiencing a bad trade. TraderFeed had another great post yesterday (May 27) titled “How Do I Handle the Mood Swings of Trading”. One of the quotes that hit home was “The threat of losing can turn into the opportunity of rethinking market assumptions”. What a thought provoking way to think about your position and stops! Also within the post is a thread to an earlier post of his on a related subject.

So tomorrow it’s back to the charts, the price action and patience as it’s a fresh day and I truly am digging out of the hole. More accurately I’m pulling myself off the chopping block after being sliced and diced and handed another helping of “Mr. Market’s humble pie.

Trade Well !