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Strategies & Market Trends : Playing the QQQQ with Terry and friends.
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To: J.K. who wrote (9)5/11/2005 4:45:12 PM
From: Walkingshadow  Read Replies (1) of 4814
 
Wow, that was a bit scary.

I told myself a week ago I was just gonna hold the long position and forget about trying to scalp a quick short as QQQQ traded down to support, and I posted that too.

And today exemplified the reason why I developed that plan in the first damn place: I figured the dip down might well be short and sweet, and QQQQ would find a swarm of buyers, and then the rebound upwards would be rather sudden and strong.

But... I tried to get a little too smart. Most of the time when I lose money, that's how it happens: I break my own rules. Sounds so simple don't it?----just follow the rules!!

This time I managed to get a bit of profit out of that quick short trade, maybe 0.5% or so, but I think I really dodged a bullet there.

T
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