Wednesday, November 12, 2008

Wednesday 11/12/2008 Trades

Lack of patience was the killer this morning. Was watching the 873 and 868 area (FIB levels) to act as short-term support, but instead of waiting for price to get there, I took an early Long position in the high 870s. Should have waited for better prices. But I have to say, the setup was on a 5-min chart, so at least I didn't make the mistake of exclusively (over) trading the 1-min chart like yesterday. Ended the day positive with +$627 but not satisfied with today's trading.

TradeStation Performance Summary

Trades Plotted on 1-Min Chart:

Current FIB Levels (240 min chart)

Market Structure Chart (5-min)


  1. Don't be so hard on yourself, considering the choppy market we're having this week, and the fact that your only trading a small portion of the day, your doing great.

    Keep it up!

  2. Thanks Michael, appreciate the feedback. I'm focusing on being more patient this morning, but not really feeling the market pace so only trading 1 contract with tight stops. My reads on the market have actually been very good, but didn't execute. Need to find that sweet spot between patience and over trading. Thanks again for the feedback.


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