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Tuesday, June 8, 2010


Guess who this is a picture of?

Are you sure? Do you want a 2nd guess?

Some times, I 2nd guess myself.
I do this when I am unsure whether to day trade or swing trade.
I do this when my entry was not ideal.
I do this when my risk is too great.
I do this when the market is this crazy.

Let's evaluate CLF trade.
The order was filled in premarket at 48.50 after I had stepped away.
My entry was not perfect and I had wanted a perfect entry.
After seeing the volatility in the first hour, I decided to protect profit.
The initial thought was to swing trade which turned to day trade.
I 2nd guess myself on this trade.

After looking at the chart, can you guess what my next action will be?

Here's one thing I might not be 2nd guessing - Oxymoron
Going forward, I will post once a week.
I do this to keep our my thoughts organized in the comment section of the post.
Hopefully, you find or will find those comments useful.