Thursday, June 21, 2007

Post Match

Early trading went well as I succesfully traded some resistance levels on the highs of the day.

Later in the morning I took a blip out of a pause on the selling at 4526, which was an old level.

Over lunch I had left some orders (it's a sim) to go long at the open on yesterday's low. Market did at first go onside, but by the time I was back price had broken through to the intermediate low of 4505.

Trying to recover on small size, my position was unfortunately stopped out automatically at 4504 with only 6 contracts traded, which I deemed probably would not have happened IF I WERE LIVE.

Now in the red I ditched the idea of recovering on small size and small stops, and so went all-in with larger positions and managed to recover. XD. Still these trades were legitimised on my firm conviction price would break the 4500 mark after scalper buyers were exhausted.

After this recovery, intensive trading with smaller size on new fibonacci retracements and extensions proved overall ok as I end up, even having scrambled out of many good trades.

On a day like today I wish there were no stops.

+10

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