[INTRA-DAY ACTION]
I am fast discovering something very very annoying:
In times like these it seems absolutely impossible to lose money in the stock market. So what just what is wrong with me?
Afternoon Update:
Had a nice trade in GM, textbook breakout that I caught a good portion of. Sold out a bit too early, and then failed to re-enter on the perfect retracement and subsequent move. Also taken a long in NOC, very strong resistance at $70 was broken this morning and I entered shortly after the break. Nice retracement and retest of $70 before a great continuation move. It's currently at $70.79 and I'm looking for $71.25.
Oil looking weak again, and the financials are just trying to break even now. C and BAC hovering at support but under the heavy MAs so not considering a long in those yet.
Post US lunch update:
Checked out my NOC, was struggling at $71 all day so took profits there for a low risk $85. GM has been nice today. Oil has been up and down all day, but most of the market is showing decent relative strength and holding quite well.
Probably calling it a day for today, pleased with how it went except for my BARC trade, I just was not thinking!
- Every stone-wall trade I don't enter ends up being a £400-£800 winner.
- Every trade I do enter reverses instantly and moves to either daily highs or daily lows.
In times like these it seems absolutely impossible to lose money in the stock market. So what just what is wrong with me?Afternoon Update:
Had a nice trade in GM, textbook breakout that I caught a good portion of. Sold out a bit too early, and then failed to re-enter on the perfect retracement and subsequent move. Also taken a long in NOC, very strong resistance at $70 was broken this morning and I entered shortly after the break. Nice retracement and retest of $70 before a great continuation move. It's currently at $70.79 and I'm looking for $71.25.
Oil looking weak again, and the financials are just trying to break even now. C and BAC hovering at support but under the heavy MAs so not considering a long in those yet.
Post US lunch update:
Checked out my NOC, was struggling at $71 all day so took profits there for a low risk $85. GM has been nice today. Oil has been up and down all day, but most of the market is showing decent relative strength and holding quite well.
Probably calling it a day for today, pleased with how it went except for my BARC trade, I just was not thinking!
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