Trading day on March 19 2010: Good Signals, Bad Management
March 22nd, 2010 | 
Author: Good setups are not enough for being a profitable trader. The proper management of the trade once you are in are vital. This Friday I got my setup triggered a few times. First time, in the beginning of the day, I hadn’t started trading. When I first saw it I got the feeling of being out of the party. This is a dangerous feeling that can ruin your trading day.
The first setup I got after being in front of my computer was a buy setup. After a 32k delta sell off, I got my 4k long entry from the lows. Stopped out this trade. Sell off continued.
Next setup triggered. Market started going sideways.
The last setup triggered was also a long setup. And it would be the best one if I took it with the “correct” size. I entered in the trade with twice cars I use to enter. Got stopped almost in the low of the day, just to see the market rallies without me.
Overview of the day:
Cumulative TICK:
Internals:
Brazilian Market:
Lessons learned:
- If you missed a good entry, you have to wait another entry with patience
- Never oversize your position
Posted in Trading Day
Hi GentleTrader,
Nice charts. I am interested in your trigger at the bottom of your reversal charts. How is it calculated? Say you have a down bar and as that bar comes off the lows is it tallying the aggressive buyers that are entering the market?
Thanks!