Tuesday, October 09, 2007

Tuesday, October 9th

Looking for a bounce

Globetrader_43

Nothing yet, so I look at the 60min

Globetrader_44

At 6570-65 I see a low volume zone. That's where I will expect a bounce to happen. Next support will be 6044, but that's quite a way to go still.

Bounce happened from 6578. I don't chase. Considered an entry at 6585, would have worked. Now let's see how far we come on that missed long.

Globetrader_45

It went very far and I missed it. Sure dumb! Did not take the long at 6600 or at 6616. Now a possible double top is forming, but the FTSE is sure strong today.

Globetrader_46

Great...sitting here and telling myself not to chase

Globetrader_01

The continued moves speak for themselfves..arrgh

Globetrader_02

That 78.80 break netted 400$ ...not in my pocket...just because I was cautious, because I was burned too often I guess

Long 15, Stop 17

Globetrader_47

Target at 36 (+21) reached

Globetrader_48

(I really thought I couldn't pull the trigger today)...that move is continuing, but I decided to trade with targets, so don't try for homeruns

Globetrader_49

and that move down ended it and would have stopped me

Btw: Someone asked for the Floortrader Setup. They seldom come like this beauty here at 79.00 and yes my entry was late. Next one might be forming right now. Just that we now are up against resistance at 79.50 with strong resistance at 79.65

Globetrader_50

Long 73

Globetrader_51

I just love to buy a high

Globetrader_52

Out BE+1 that one wasn't going like I like a trade to go

Globetrader_54

Now it's going

Globetrader_55

Let's see...how should I have traded this

Globetrader_57

I marked the entries I see, with the second the real nice one. My own entry was way too late, when CL had run into resistance at 75 and wasn't able to go above it.

Now I really start to question this BE+1 rule. I was in a possible +400$ trade for a BE+1. Is the last man exit really worth it? I don't know...I THINK I might regret it the next time I abandon the rule, still the Long setup was there, I happend to be already in that trade, so I should have stayed in.

Globetrader_58

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