I shorted the NQ yesterday afternoon at 2142 when it looked like it was going to stop at overhead resistance, was planning on shorting it down to support levels but using a stop in case I'm wrong. I just closed it out for a small gain. This was a trade where I was kind of late to the game. I had wanted to short last week but just didn't make the time to follow through on it and I missed the move. So when I saw a large white candle that seemed to stall at resistance I decided to be a late entry to the trade. I later decided that was stupid, I had already missed a good 50 point move down. So I'm out at 2124.75.
Many of you have been reading this blog may have noticed that my blogging frequency has increased over the past few weeks as I got short the market. As you can imagine I am down money since getting short the market, this is the time when most people pull away from posting. But my goal is to stay active and involved and show you that trading is not always rainbows and butterflies. It is times like these that the things I have been sharing over the past couple of weeks are so important. You need to trade small relative to your account. I have a decent short position in the market and my portfolios are set up to make some awesome returns if we finally turn lower. But something I would like to point out is that my account is 70% Cash. I learned a long time ago how important it is to live by the rules you preach. Because of my discipline I am able to continue to hold my positions, I have time and capital on my side. I can't stress enough how important it is not to get to big....


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