Two Trades, Bulls Are In Charge

July 12th, 2007

Let’s start with a chart of the Qs today.  Nice uptrend all day long:

QQQQ.20070712

Consider this given the market trend above:

  • I took two trades today both long
  • I was in one position for almost 5 hours, holding until the close
  • The same position closed very near its high for the day

Given these facts, how many Rs do you think I made today?  4?  5?

Nope!  I lost 0.4R today and spent most of the day closing in on -2R.

It’s days like these that really used to frustrate me.  I would see friends later and they’d say, “You must have made a killing today!”  I’d start explaining that it didn’t work quite that way every time and they’d look at my like I was an idiot.  “Even a moron could make money on a day like today,” I bet they’re thinking.

These days don’t frustrate me any more – they come with the territory.  There’s plenty of days that I outperform the market by a lot so it’s no use getting frustrated by days like this.  You remember my motto, right?

Here’s the charts.  Stopped out of SIFY for -1R:

SIFY.20070712

Here’s the trade that made it until the close for a measly 0.6R:

TCK.20070712

Here’s one that I didn’t see until it was too late:

RIO.20070712

2 Comments

  1. Eyal Said,

    July 12, 2007 @ 4:44 pm

    Can I copy and paste your post into my blog? 🙂 Lost 2.8R on a day like this.

  2. Trader Eyal » Blog Archive » Thursday trades Said,

    July 12, 2007 @ 4:48 pm

    […] day. Everything shot through the roof but I lost 2.8R. If you want to see what I think you can read Dave’s post, almost one to one with the added frustration of having been in RIO but shaken out before it went […]

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