The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at toddstrade@gmail.com
I am always open to questions, comments, or suggestions on how to improve this blog.


Thursday, October 23, 2008

depressing

Such a volatile day today. I had two beautiful windows open to me this morning to take MZZ and QID long, except I blew it and didn't jump through those windows. So frustrating sitting on the sidelines watching the potential profit fly by. It's just a matter of trust in conviction that I don't have yet, but can at least keep in the back of my mind for the next time the VIX is hitting 80.
Oh well, it's obvious I'm just not ready for this level of volatility, and I suppose it's better sitting and watching/learning than chasing something and losing money.
The only thing I have left to say about today, that I should have kept in mind is, always short a day when Greenspan speaks!

2 comments:

Trader M.D. said...

Missing an opportunity is indeed a bad thing, but don't channel that emotion into making a bad decision.

Nothing wrong with missing an opportunity, as a trader we get 100s a day.

todd said...

Thanks doc! Hope you don't mind me calling you that, it just seems like the nature way to address an M.D.
A close friend of mine went to UCSF and for a while I couldn't help but call him "doc." Now I refer to him as "chief" as he is chief resident at Penn. Anyway, how's everything going with your work/school at UCSF?
Thanks for your words of encouragement, have a great weekend!
-todd