Monday, July 2, 2007

Rangebound

Well, as advertised, this week has started off on a slow note. I'm not saying it's not cool that the Dow is currently up 90 points, I'm just saying that all of the substantial action in stocks came in the first 30 minutes of trade and since then, the indexes have been flatlining.

In keeping with my "plan" I have only executed a few trades today. So far, so good. I've been studying setups via Maoxian, and candlestick charts via Trader Mike. I know this may seem somewhat ridiculous from someone who's been daytrading for the last 8 years, but my knowledge of "setups" and "chart patterns" is basically nil.

I have been trading intuitively for so long that these things are basically new to me... meaning, if someone asked me how I've made so much trading these last few years I wouldn't be able to tell them in any clear way.

I traded and I don't know how.

So in a way, I'm learning how to trade all over again. It feels crisp.

Anyway, we'll see how the day ends. If I lose money, I'll go back to freaking out.

UPDATE: The Dow is now up 105... perhaps we'll have a nice afternoon rally.

3 comments:

newequity said...

How much have you made over the last 8 years?

Dinosaur Trader said...

Neweq,

Enough to deal with a 3 year trading slump. :)

-DT

FX said...

"I've been studying setups via Maoxian, and candlestick charts via Trader Mike. I know this may seem somewhat ridiculous from someone who's been daytrading for the last 8 years"

lol