Wednesday, July 8, 2009

Tuesday Result

Nett Profit : $77++

GS Story:
My Hi-Lo PAP formed perfectly and I entered approx 10 seconds before the candle formed. And in 20 seconds I cut lost $77. This is madness.
Story cut, I turned and managed getting 45++ profit.
Plus 2 times scalping added about $10.

AMZN story:
Play PUT first and got $10++ and the disaster came. I play contrarian and being hit to $230++ potential loss.
Waiting and had I chance to get out managed to profit $14

Moral of the story:
Play the one you understand, and careful with new idea. Best to paper trading first.
When you are losing because of cantrarian play, it's better to use Capital Preservation Strategy. If I stay with the market hoping take $200++ form market I will end up loss $-200 today.

New Idea:
I want to look at ATR as my extended strategy.

Happy trade

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