Wow, what a start to the new trading week! :P I woke up and traded a grand total of 7 minutes before my big loss. One a positive note, it could have been worse.. but a loss is a loss, and it sucks.
I was tricked again.. when will I learn to NOT pay any attention to marketwatch. Perhaps I should stop even looking at it. Anyway, it's just habit and no matter what happens in the future, I DID look at it and saw the prettiest red colors..
This did put me in a mode to probably trade bearish, but sometimes (often) the winds change.. like in a second..
Here on the hourly price was clearly bearish in the morning..
The 15-minute also showed a strong bearish trend was underway..
I was about to enter after a glance at the 5-minute, but realized I was still in my papermoney account. Oops, I had to login to my real money account. In the couple minutes that it took me to do that, price had taken off and was roaring up now.. I wasn't about to enter that, so I waited till I say signs of it turning back down.
just look at this bull action. I would've been stopped out for sure. Looks like I dodged a bullet on this..
I entered as price seemed to be turning down, but almost immediately, the bulls came in strong again and pushed hard for several minutes. I suppose there was also big bears at play and all this price struggle caused the market to implode for an instant.
I was watching on the chart at this time, and I never seen this before, but it suddenly shifted my order lines by about 10 points, triggering the trade to close. :(
I bet it did this no matter what orders/limit prices a trade had open, so I was quite confused for a few minutes. I say that price did rise even more a few moments later, and I would've gotten stopped out for an even bigger loss. (twice that amount) I guess I caught a lucky 'glitch' in the market? (a market spasm?)
Here's how the day ended. I think maybe I could've traded WITH the bulls, since it was ending the week and all, but that, to me, is like gambling. The smartest move would've been NOT to trade today and NOT risk any loss.
