PPP Trade on Oct 5, 2012 13:15 from kumarBOWS: Tradervue User Stock Trades.

For some reason all the trades were bunched together and uploaded as one trade. I actually made 5-10 trades on this which isn't showing.

If I remember correctly I was trying to nail this on the short for the 7.00 crack. Each time I initially shorted, I had a horrible entry right at or around 7.00 and it would squeeze up, scare me out (what are stop losses?) and then head back to test 7.00's. By the end of the day, it never ended up cracking that seven dollar mark and shook me out 2-3 times and then fucking finally squeezing me out nicely.

Looking back at this trade I can't help but laugh at my ignorance. I was looking at the markets through a telescope and all I was seeing is the crack of 7.00 and then flushing out. Not even once did it cross my mind that this could hold that level and then head back up (gear & perk).

Hindsight:

The better trade here would have been to get out after it didn't break 7.00 and began perking up (middle of chart). After that initial perk, it put in a higher low indicating that a gear & perking pattern is starting to form and it's time to go long and set my risk to 7.00

Good lesson overall