The crap that drives me nuts and makes me poor
This is the stuff that's doing me in right here.
I saw that on Friday WCC was stabilizing and I thought there would be a little pop off the open as it broke a minor trendline that was in place for the past couple of trading sessions. I put in a buy stop at the trendline and as the stock opened above the line, was filled at the opening price of 62.35. To add to my conviction, the stock was upgraded pre-open.
On the opening print of 23,300 I was the 300. The opening print hit my tape at 9:30:53.
3 seconds and 2200 shares later, the stock is trading 61.86 and I am down a half point or, $150 on my first trade of the day. Thank god I've cut my size... I ask again, absent of not trading the open, how can a trader manage intraday risk in the Hybrid Market?
Pre Hybrid Market, stuff like this just didn't happen. How could I have avoided this loss?
Ray, from Hybridtalk, if you're reading, really, WTF?
I just don't know...
4 comments:
Have you analzyed your trading performance the first 15-30min of the trading? What time of the day are you most profitable?
HPT,
Thanks for the comment. Here's the thing that kills me. Back when I was really successful, it was the open that made or broke my day... most often, I made my money for the day in the first hour of trading.
Perhaps things are different now. It's hard to say when I'm most profitable now but maybe I should figure that out.
Thanks for your comment.
BTW, nice blog you have!
-DT
regarding to your trading for WCC, you should not buy when 240 min line is not flat in 1 min curve.
Trading for life,
Can you clarify? I really don't know what you mean... what's a 1 min curve?
Thanks,
-DT
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