Wednesday, July 31, 2013

TWC sucks! Also, ES trades for 7/31/13

High-speed Internet from Time Warner Cable sucks! I've been with them for 10+ years. Over that period, I've experienced, on average, about 1-2 cable modem reboots per week. A sudden loss of Internet connection can be very dangerous when day trading. Why stay with them, if their reliability is subpar, you might ask? Well, I've stuck with TWC for all this time, simply because there were no other alternatives. That is until now. Verizon FiOS is finally available in my area. Thinking really seriously of switching.

Trade #1 - Anyway, I'd a bad trading day today. Don't feel like writing much. Basically, shorted at around 10:34 @1690.00 and got stopped out promptly 3 minutes later @1692.00 for -2.00 pt. Two glaring mistakes I'd made were:
1) I'd misplaced the top trend line, which caused me to misread where prices were heading. I thought prices were hitting trend line resistance.
2) By going short, I'd countertrend traded, since the market was in an uptrend.

Didn't really bother with the rest of the day, as there was a FOMC announcement scheduled. The market tends to be very volatile/wild immediately before and then after these types of events.

E-mini S&P 500 Futures chart for Wednesday 7/31/13
7/31/13 ES chart

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