Monday, February 28, 2005

I'm a market force

You know what, in the future I will let you know, when I enter and exit the market.
I'm a marketforce, I'm absolutly sure.
I trade just 1 contract, but this 1 contract is worth more than 5000c Euro.

I go long and be sure there will be no trade 1 tick above my entry for at least 2 hours. Of course when I took the trade, there was no hint at all, that this would be the line in the sand.

Conclusion: It can be noone else but me, who is drawing this line in the sand.

I hold through a news report, because I hate selling at a loss, when it's just 2 ticks from my entry, the market goes down, reverses and gets rejected: You guess it: My long entry.

At 2.45pm (8.45am EST) I had to leave, and I held until the last moment.
Yes Euro made it to 61, it made this 1 tick, came back, struggled and I covered Breakeven + 1 (sounds familiar), because I had to leave for 3hours.

Looking at the chart now gives me all my answers.
My selling finally released the market and it was free to make it to the old high at 80.

Yes, I'm a market force.

1 comment:

Anon007 said...

I too must be a market force, chris, since I have the ability to stop any move dead in its tracks with my order. I have held the Russell at bay for hours this way. As soon as I give up and exit out of frustration, or my stop is finally hit, it takes off again. I believe this is really a worldwide conspiracy, but why are we the only targets? I donated to MAW last year, honest.