IKE,
I appreciate all that you say, and the information you are able to garner. In actuality, I did not take the short. It looked like a short to me and your indication that the pit wanted to get long in the 58 level just confirmed that it probably was a short. However, I decided to wait and play the long bias that I suspected was coming, so I did wait. I also am fearful of losses having experienced some since I went from paper trading, a piece of cake compared to the real McCoy due mainly to the pyschological factors involved and waited for the up-trend to be confirmed before getting long...hence my long at 60.50. The only better entry would have been 60.00 a few minutes later, so I am pleased with my entry on the trade. My exit was a bit premature, but I don't want to be a pig and did not like what I saw short term on the TICK chart, nor the 2 o'clock est time frame, so I exited at 65.00. I could have gotten a touch more, 67.00, had I exited on the spike and that is something I need to work on.
I may not have paid the dues you have, or have the experience you have, but with this wonderful place called SI, I have the opportunity to learn from some of the best and have done so. Due to my circumstances currently I trade in a much shorter time span than you do and sometimes disagree with your assessments, however, the disagreement is more due to the nature of the time of the trades than the underlying message you send. I appreciate your time, energy and wisdom you put into these boards.
Keep up the good fight and feel free to offer pit levels whenever you feel it is appropriate! :)
Thanks again,
-Scott |
