Friday, May 16, 2014

Can't see the forest...+3.50

Can't see the forest for the trees

I sometimes have a tendency to not see the forest for the trees. Two examples of this today. First, went short without checking/noticing that I was entering at the support area. Was too mesmerized by the very fast bearish bar that formed. WTF?!? Stupid reason for entering. Prices then came within 1 tick of triggering a full-blown 2 points stop. Would've ended my day right there and then. Second, missed a great long setup, due to the fact that I didn't have the main trend lines in place. This was b/c I was so concentrated on looking for trades on the short side. The subsequent move up turned out to be the biggest move of the day. Dag!

E-mini S&P 500 Futures chart for Friday 5/16/14

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