Friday, May 16, 2008

Today was a perfect example of me failing to trust what my chart was telling me. I did ok, trading-wise, up about 2.50 pts (per contract, but just been trading 1), but I seem to fall into the trap of expecting a day to continue in its early direction, especially if it was a strong move. I really seem to do this A LOT, but bias is also a factor, I think. I believe that all traders have some sort of bias, some more than others, of course. The key may be in tempering the bias, rather than struggling to ignore it. Had I traded what I am trying to accomplish with the 377 tick chart, along with fib levels that I am using, I would have made much more profit. However, I did leave at about 2:30, and I think I would have been making a few winning trades if I had been able to stay and trade. I am going to try to post a chart, but otherwise, it's late, so signing off.

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