Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Yes, I did and missed that one. Indecision today kept me out a a great short and a great long. Still basically flat on the day. Two trades, no "positions". I may enter long, but am kind of expecting to be whipsawed for some reason. I will still buy at 106.40 or 105.50 area, or sell at 107.50. And may try to grab $200 here and there. But I missed the major trade I was looking for already.
BTW,I have PMed Gary to allow me to intrude on his thread. Not hijacking or anything,just hope a newbie learns aa few things about PA or just following the colors! lol
As I sit here, hands off for now, and try to read the reaction as the market broke the prior top with whimper...
In the past when I had set my plan for the day and then missed the opportunity, only to see the thousands I missed out on by not taking action, I found myself in a bad mood, angry, disappointed in myself, all kinds of bad things. Today, I feel nothing. I missed one.
I recall moves that felt like "would never happen again". lol!
This is the only reason to have a journal IMO, not to post wins, show skill or wins but see how you felt and perhaps why you either acted in haste or missed signals. Do that Gary, change this journal into cataloguing only things you missed...not a one journal that does that here on nexusfi.com (formerly BMT)...a journal with a difference. Because no one can demand to see you live trades or your explanations. No one has that right. That is the primary reason I stopped both of my blogs, after the euphoria of how "great" and "skilled" I was wore off...I realized the best learning came from the falls...and not from seeing my wins....a delicate balance between positive and negative re-enforcement. Some people work better with positive, others with negative.
Price wise.....good behaviour today.. fairly symmetrical and contextual.....the so called value areas are where the waves held.
I don't know about crude, but in equities it's really mostly about Greece. Optimistic news has been flowing today, and so the market has been buying. There is still a possibility that foreign bondholders not bound by Greek law (14% of total debt) can spoil the loan from the IMF, but as of 1am EST we will know for sure the status of the debt swap, and as of now they have 80% committed, and only need 66% to trigger the CACs necessary to force everyone to participate. In short, I think this is a done deal, and so does the market. Uncertainly still looms as I mentioned, but this deadline is not until March 20, and will probably be a concern as that date looms.
Technicals may give us locations to trade, but it's the collective sentiment of the market that gives the direction, IMO. Short of any real uncertainty suddenly happening from Greece, I don't see a big selloff happening. But as always, the unexpected looms and can always happen... Plus, crude is a strange animal on its own, and may react in ways other markets would not.