Wednesday, December 8, 2010

$35 gross day trading today

I'm still having these enormous doubts and confidence issues day trading but still managed a $35 gross today after being down $35. I was down $35 because I was trading against the 10 minute trend trying to pick the bottom. The 2 minute was giving a buy signal on the stochastic, which is a shorter term and more volatile signal, but the 2 minute MACD had yet to turn. I need to respect the rule that if I'm trading against the 10 minute trend I wait for the MACD to turn to confirm, or at least wait for a higher high, or just sit on the sidelines.

I don't have to trade with the trend but I can't fight it without additional arguments. This means that I will lose opportunities, the more rules the fewer conditions that will be correct, but also fewer losses.

I'm going to have to do some work on this block. I don't feel it for swing trading but there is an intraday block that keeps me fearful even amidst clear successes.

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