Catching the Bears’ Market

Posted by Deb | Day Trading Journey | Monday 6 June 2011 10:35 pm

Today was a Monday. Recently I often have no time to trade on Monday’s, and today looked it will be no exception. I came home at 3:00 PM, but had to tend to the kids, then driving them around, so I couldn’t open the platform. I finally had 10 minutes to spare at about 16:00, and although I knew it would be insane to enter a position when I have such a short time I could resist the temptation to just open the platform to see how things are going. To my disappointment I saw that had I opened it at 3:00, I possibly could have catched the market diving and make a nice profit.

I didn’t have time to take a look till about 30 minutes ago, at 10:00 PM. I opened the platform, and realized the market was in the middle of a dive. I tried to check the charts, but the charts’ connection was bad, and in any case the market was diving below any recent support lines so that I had no guess where it will stop.

I decided to enter immediately on 2 contracts. At first, the market started to go up again, and was getting annoyed at myself on entering like that with no indicators. About 5 minutes later, the market turned down again. A few minutes later I was already making a profit. I quit with a profit on $125.

I thought that was enough for today, but the market was continuing the dive and I decided to try again. I entered with 2 more contracts, and quit with another profit of $75. Yayy!

The market was diving further, but I decided no to try my luck again for today.


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