The weather in Dallas is too good to pass up today, and the markets were confusing me. So, I practiced what I preach, and I walked away.
I made 0.4 R on a break-even trade and a little scalp on OXY (I should have chosen XOM over OXY, though, in hindsight). Looks like oil and gold were good places to be today. The break-even trade was on RACK, which tried really hard to break out of its channel, and held up really well in the market downturns. But, at least while I was watching it, it failed to really go anywhere.
September 26th, 2006 at 11:54 am
I wish I would have walked away. I got nailed on three trades that looked like good setups: FNSR (-0.4R), FNET (even) and KFX (-0.8R). At least I didn’t get taken for more than -1R (you know, $120,000) on any of them, but I didn’t play them well, either.
September 26th, 2006 at 1:36 pm
@Ex: Glad you lived to trade another day. That’s what it’s all about!