8/15/07 General Trade Log / Idea Sharing

[AbeSmith 10]

I trust you meant you went short right?

 

Yes. Thanks for catching that. Trade 5 was a short.

[AbeSmith 10]

Abe, you shouldn't trade on something that is "possible" to set up. You can never see to the right of the chart. Just my opinion.

 

Thanks Tin. It seemed like a high probability setup. But the stop was too wide. I think if I had waited for a better entry I could have placed a tighter stop. I'm looking forward to multiple contracts because it will allow me in a case like this to exit one contract and adjust my stop to break even for the remaining contract(s).

[TinGull 10]

The high probability setup hadn't occurred yet, is my point. You were anticipating the move, and that is definitely not hi odds.

[AbeSmith 10]

Trade 7: -16. Error in placing stop. Original stop was to be 6 points but unintentionally typed the wrong number.

[AbeSmith 10]

The high probability setup hadn't occurred yet, is my point. You were anticipating the move, and that is definitely not hi odds.

 

So you would have waited for the move to confirm, i.e. a drop from the shoulder, and as soon as you saw the high volume drop you would have shorted it?

[AbeSmith 10]

My trading summary for today:

 

7 roundtrips. +9 points. Realized paper profit $15.18.

[james_gsx 16]

Abe, you should have waited for the break in the neckline before making the trade. That would have been your confirmation for a head and shoulders pattern.

[TinGull 10]

Abe, you should have waited for the break in the neckline before making the trade. That would have been your confirmation for a head and shoulders pattern.

 

ditto that

[AbeSmith 10]

Abe, you should have waited for the break in the neckline before making the trade. That would have been your confirmation for a head and shoulders pattern.

 

Thanks James. P.S. Did you ever make that trip to Dallas?

[james_gsx 16]

No, we stayed up in Amarillo and I helped my sister plan her wedding. We were going to head down tomorrow, but that seems pointless as it's a 5 hour drive and I have to leave Friday morning anyways. Oh well, I visit Texas quite often so I'll be back.

[AbeSmith 10]

No, we stayed up in Amarillo and I helped my sister plan her wedding. We were going to head down tomorrow, but that seems pointless as it's a 5 hour drive and I have to leave Friday morning anyways. Oh well, I visit Texas quite often so I'll be back.

 

Hope all is well, and congratulations to your sister on her wedding. Let me know if I can be of any help if you visit Dallas.