Wednesday, September 30, 2009

Tuesday Log - EOQ Means Earning Season Begins

Started the day trading near the open with a long from 61's. Just looking for some quick scalps. Scaled out at 62's and 63's with a runner remaining which broke even. Result: +4.25

Re-entered long from 56's near the 1000 hour. Again, looking for scalps as market was in a tight overnight range that never really broke. Result: +3.0

The rest of the day was stuck in a horrid range. Tried a couple scalps but unlike the AM session, I did not feel the market well, got a bit impatient as I wanted to trade and forced a couple. The decision to trade in such tight ranges today was not a good one and intuition told me to back off but I failed to "listen" to myself. 2 trades Result: -4.0

End of month and quarter on Wednesday. Earnings season begins in October which can be a volatile month. Be aware of major company earnings announcement schedules as well as protect against possible wild swings during the month.

Trade Well !

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