Jun 282013
 

End of the month volatility today is normal.
I made one trade resulting in a small loss.
Sometimes I’m wrong about being wrong.
It happens!!!

No one likes to admit they are wrong,
to admit you are wrong about being wrong sucks.

The trade I took was a SWAG (Super Wild Ass Guess).
My usual indicators were showing long and I took a short.
The trade was simply on ‘feeling’.  Never a good way to trade
(at least for me).
The rhythm of the action was short but Delta, Schaff were Long.
The short indications were Bid / Ask and Time and Sales both showed short action.

So I took the trade short.  I initially chased it 1 tick and then got filled.
The trade was fine and holding the level but then made what I saw as a significant Delta move up.  The Bid/Ask and Time and Sales turned to buying.

With a higher low and the change it rhythm to long, I took my exit with a 2 tick loss.  My stop was not hit and had two more ticks to be stopped out.  The exit was my decision.

As it turned out, I exited at the high point of that leg and the trade again turned to short.
The images are below.  It is still falling as I write this.

Sometimes being wrong about being wrong continues to suck.
But discipline is the best way to survive.

6/28/13 Trade Entry

6/28/13 Trade Entry

6/28/13 Trade Exit -2 Ticks

6/28/13 Trade Exit -2 Ticks

6/28/13 After Exit. Wrong about being Wrong!

6/28/13 After Exit. Wrong about being Wrong!

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