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Wednesday 27 June 2007

June 27 Trade Analysis



Here's today's lucky charts!
Thanks for all the comments everyone.
No need for analysis, it's the same BS as usual on my blow up days, average losers and puke the trade when you feel the max pain or the market closes. ER2 had a nice 20pt run up today with a 2pt pullback during some periods during the day. Tommorow is FOMC day, should be boring after todays crazyness. Today we had bonds and equities inverse trading again, I think Paulson made a statement which made the dive in bonds and rally in equities occur. If you learn anything know that the inverse bond/equity relationship occurs leading up to FOMC meetings, something I think I just realized that is important to know and can be made into some sort of strategy.
I'm not sure what I'm doing as far as trading goes, I'm watching ER2 continue to climb right now in the afterhours around 11:45pm EST now at 847, good thing I finally cut that bastard.

Trade analysis-
I've never had a trade that ran for more than 3pts on ER2, I've never caught a trend day. This past month I was on the wrong side of the trend on the 2 largest range/trend days and also inccured my biggest losses ever (-18k and -9.5k), I do good at trading the first 2 hours, the afternoon I tend to lose my money/ make a couple hundred bucks, rarely make a couple grand, and have all of my blow up days by averaging a bad position on trending days in the afternoon.
I wish I had a trade risk manager because my big blow ups may have been able to have been stopped, becuase I'm stubborn and greedy, and I still haven't learned from my mistakes, I make 1 months of profit and through it out the window in a day, 2x this month, 20k out the window, (%*% me. Don't you just love loser traders venting their losses, it's funny. I still don't know how I'm going to avoid another blow up day like today, stops you say?, yeah maybe I should try that, or maybe I should try the not averaging losers thing....

So I'm pretty much back to where I started in May,,,,a month is lost, so close to getting back to breakeven, but all is lost. Will Johnny boy prevail,,,,,,,,,,,tune in next week, or whenever it is I decide to post again.

Anyone want to short the market tommorow with me before FOMC minutes are released? Heck lets bet the whole account, what's left of it,,, on some IWM 81 puts!!!!

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