Tuesday, August 25, 2009

back in sync: is fear now my friend?


  • when the NQ started to retest the morning highs, i tweaked the exit and got filled at 1651.75 (+9.25 points/contract)...
  • i was looking to buy this lot back at limit 1643.50...tweaked the entry and got filled at 1644.00...
  • both of these tweaks were based on fear: fearful that my exit at 1653.50 wouldn't fill and then fearful that my entry at 1643.50 wouldn't get filled...as it turned out 1653.50 would not have filled, and i would have been pissed to watch the NQ fall back into the low 1640's...
  • 1643.50 may have filled, but since that was the low of the swing down from 1652.75, it may have not...
  • so fear definitely helped my exit and may have helped the following entry...my intention of trading with less of an influence by fear would have hurt me in these two instances...not looking to make any drastic changes regarding how fear influences my trades, just observing it...
  • currently looking to sell this newly added lot at limit 1662.50 during the day session...
  • currenlty looking to buy another lot during the day session at limit 1617.50...
Disclosure: Long NQU09.


***remember this is an illustration of what i am trading and my thinking...my trading plan may change without notice...this is not a recommendation for you or anyone else, to buy or sell this or any other security...***

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