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Brief EOD video and commentary 3-17-10

And the uptrend record extends itself…some parabolic moves in GMCR up today and AAPL to the downside, though it is now at support. Some of us captured these gains nicely in the room. Felt a bit uneasy trading this afternoon with the swift down dip, but we called it as a buying opportunity, and so were at least prepared when it began to recover. Ultimately, we are still trending higher…perhaps we have a couple of days’ pause running into expiry, but the press forward is like a locomotive. Beats all I’ve seen, but it does remind me of the opposite occurrences as the market was running down. I am holding my breath, a little, and go basically flat at the end of each day…still trading aggressively, but waiting for a shoe to drop perhaps (hence not carrying positions over into the next day).

Had a tinychat room today for the public in case you missed out on the low jinks. Probably won’t be doing that again. As I work very hard to extend myself to others, because I like the thought of helping people get better (selfish – because I’m making myself feel good, honestly) I did feel quite slighted after sharing a specific entry point prior to the event, only to be held responsible for a missed trade when I was taking the time to clarify my entry qualifications on a 2-5minute candle timeframe. But this, I keep telling myself, I should not take personally, but I did, and frankly I let it affect my trading. I’m a serious person and have little time for frivolity in the work space as it relates to entries and exits entry on trades(note furrowed brow on AnneMarie TV) =). For the record, when trading short at a price level on a very small time frame for a stock that has not been in a channel, I will wait for the level to fail twice before entering the position, and I will enter exactly at the second failure (or better if everything looks good on the side I’m trading). A very nice trading rule for anyone interested. It works well.

BUT…Trading is a struggle and often when things aren’t going your way, it leads to deep seeded frustration that can be expressed in a number of ways. Today, someone wanted to blame me, and at the end of the day, after my head cooled down, I can see clearly that this is simply frustration….and I am no stranger to such feelings, especially in trading days past. So I have rationalized the event and I am finally on the straight and narrow there.

You know, services like these are here to assist you in making better trades, or to help you learn how to trade better, but we are not here to trade for you. Please understand that trading is an INDIVIDUAL sport, and you are responsible, entirely responsible for entering and exiting. I’m just telling you what I did/do, and if you feel that you know too little to engage with comfort on your own, perhaps paper trading, or better yet, a trading education, will set you on the right path.

Which ever you need to do, put attaining the necessary skills first, before you rush in. That’s how you protect yourself and your assets. You’ll be happy that you did. That’s all….

Members, here’s the video

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