Tuesday, May 17, 2011

What an awful feeling it is, climbing up from a massive drawdown. It is easy to lose control of our very own nature to want to get it all back as soon as possible. Such a reaction can only lead to impulsive gambling and irrational position sizing which in turn leads to a blowout. The only way out of this is to discipline ourselves to push away these impulses and hold ourselves in check. Reduce position sizes and trade clear signals.

For today, I'm holding on to my CAD shorts and added NZD. As CHF showed a dip buying opportunity. I went long CHF as a hedge. Either way I'm poised to double up or exit my CHF when things get clearer tomorrow.

Stocks did beautifully, although my ES hit my stops for a small loss, TF showed me a handsome profit, and I intend to hold onto it as it shows downside potential still. NQ gave a short signal and a breakdown of it's range. Added 1 NQ short.

Gold poised to head lower unless it heads up today, warranting an anticipatory short.

Natural Gas showed some profits and movements yesterday was good. See further upside and added on to my longs.

Cotton reacted against me but trends still solidly down and see a rally as temporary. Holding on to shorts.

Soybeans looks like it's on the verge of breaking, if today closes around here or lower, good sign. Will add on. However if today moves higher, will exit with a small loss.

Wheat looks like it will rally. SL definitely turning up today, unless major move happens. Exited wheat at near breakeven.

No comments:

Post a Comment