Next Week!

The good the bad and the ugly

Knowing myself is very critical for the success in trading.

Here is the good part:


1. I'm very good at the bottom fishing. When people are really panic, I start to build my positions. I'm getting better at this each time.

2. I'm very good at the dull market in general. Check the daily chart, the market didn't go anywhere for the last week, It is especially true for NDX for the last two or three weeks.

 3. Relatively good risk control.

Here is the bad part:

 1. I'm very emotional. I get very frustrated if I do the day trading and the market doesn't move at all. It affects my mood.

 2. I'm very bad at dealing with the market drops during the day. Here is the example: check the chart on 9/4/14. Some people are very good at this. I know I'm not good so that I didn't watch the market in the last hour and went to  have a long lunch.

 3. I'm not very humble. I brag and show off my trades on the forums. The market just knows to how to slam at my face at the right time. :-)

Here is the ugly part:

  It still is related to the emotion.  I'm a woman. you know. Sometimes I'm just out of blue and do the stupid things and I regret the action afterwards. It happened 2 times this year.  If it never happens again, I would consider that I really improve.





 
   

CNBC Live

  I woke up really early yesterday and wondered what I should do my positions with the monthly Employment report news. They made it such a big deal and let my emotion running high. Actually I just needed to know the number.

  Oh, well. I did a little hedge after the market opened.  It worked well.  I'm doing the same thing next week and the week after the next week until it doesn't work anymore. Trading is not supposed to be exciting. It is a boring job. People try to make a lot of money in the market. I only want to get a little on a regular basis. If I'm not able to make money,  I want to keep the money I have.

 I left quite a few chips on the table since I didn't want to take the extra risk. I did the same thing last Friday.

9/5/14 Weekly summary update

Index	Started Week	Ended Week	Change	% Change	YTD %
DJIA	17098.45	17137.36	38.91	0.2	3.4
Nasdaq	4580.27	4582.90	2.63	0.1	9.7
S&P 500	2003.37	2007.71	4.34	0.2	8.6
Russell 2000	1174.35	1170.13	-4.22	-0.4	0.6

Haha..... The market.

  There is no pull back in the market.  What are you going to do? People stay sidelines. But staying sidelines won't make money!

   The range was small today. But I was able to trade some with profit. Am I going to have another winning week?  I think so as long as Vix is between 12 and 13. I prefer the market pulls back a little, but if it doesn't, I'm okay with it.

 

 

Commission is way too high.

I need to trade less. 

Next week!