Thursday, March 10, 2011

Update Thursday Trades

After breaking news and price straight up to the sky like crazy, I tempted to make another trades. First trade I did well with $225 profit. Then price chopped around and I gave back almost all of the last profit and call it a day. If I continued trading according to my plan, I will give back all my today's profit plus a little more extra red. All of my defensive plan wouldn't work. Only the Money Management can save the day.

But also, if I sticked to the plan and trade all day I made huge profits today. A little give and take and actually I had my anchor bar said long before the news. But the choppy really annoying.

Crude Oil really really the hardest and toughest symbol to trade in the world now. I salute to all oil trader out there.

Lesson Learnt:
1. It's wiser not to trade after big move happened 01.00 EST onward. Choppy and very volatile. I stopped out twice in just 5 seconds!!
2. I reconsidered my daily limit losses again. Two days I had movement only after the daily limit triggered.
3. Must looked for a new filter method. Renko Bar's very late.

No comments:

Post a Comment