So, if I was a betting man..... as I've said before. Well I did take a bit of a punt , as I am sick to death of silly stocks not going anywhere.. and I 'punted' on the XJO index. Having reached 6400 and turning around as it has now done a couple of times...ho hum....I went Short around 6357, about 15 mins before close of business - I had a signal on a 15 minute chart.... AS SOON AS I SOLD it went up.. moron, fool , idiot... isn't it interesting what we tell ourselves when a trade doesn't 'immediately' work out! Any way, the close of business it was 6387 I think [on the continuous chart-trading overnight-], my stop was 6407. Off to bed to discover New York had dropped 100+ points -GOOD- for me at least.
The futures charts were showing an open in the 6317 region, and they did. And then dropping even lower to around 6302. Great , profits, money ....yeah. Then there was an afternoon clawback , and a close with 20 points of profit. One stock market teacher had imprinted a phrase on my brain- "don't turn a profit into a loss'. So I moved stop to entry + a couple of bucks.
Well over night Aussie time New York went , UP, we went UP, I was stopped out as it sailed back to 6380, then turned around.... this time I didn't have the heart to take it- I also had no signal...and then OF course it plunged down to the bottom of then channel at 6170 ish...depends which chart you're working off. If I had not heeded the teachers advice I MIGHT have picked up 100 or so points....
No lessons to be learned from all this - though I am becoming convinced that this is not the 'lifestyle choice' that is suitable for me.
The included chart is just the daily action so there's no detail on the intraday stuff...
Oh, and I was so disgusted with normal stocks I didn't even bother looking....
