Monday, October 4, 2010

Monday Result


My Plan worked well on Currency, except operator error and missed entry. My biggest profit today came from TF. This buggers did slam and v-raised again like usual. But instead going in based on signal, I used discretionary entry with usual Stop Loss. Stopped Out twice (should be only one since I was greedy) and finally profit @ 1.5pts and 6.0pts. I was lucky today. Buy 2 contract near peak, sell all of them before v-raised. I'll tell you little story about V slam and raise. This type of pattern is not a pure price action. Common price action will be at least one movement to the last extreme, could be same, higher or lower. But it's close enough. While today's V-Slam absoultely not made by human's operator. It's Robot in Action, and it's hard fighting the robot.

Lesson learned :
Focus on Currency, very profitable.
Dump the TF until further sign of life.

For those of you who like averaging down (especially long) well congratulations :)
You may get profit every day. This type of market give amateur and beginners a very good result. Every sin at trading were legal for the past 2 months (US Futures only) the sin like: Profit Taking Early, Averaging Down, and No Stop Loss is served. While Cut Loss early, Let Profit Run, and adding position when right were punished.

But behold, for amateur and beginner, there'll be a time when every profit from this market will be wiped out in 1 day. Flash Crash on May 2010 surely will happened again, and I bet it's worse than before.

It's so hard not to become a bear in this type of market, while I was also very bearish on Dollar. The not very manipulated market right now is Currency and Commodity (except Market Index like ES,NQ,TF) Others are zombies waiting to be slaughtered.

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