I was sitting here watching M fail to layer up and it slowly starting trickling down and what happened was I missed the market as it traded 1107.25 I put a limit it at 1107.50 it didn't get back to me and it got away. Rather than going market I missed out on an excellent trade but chasing can be a dangerous thing and I rather miss out on a trade than get fucked on shit fill. Oh well better luck next time!
Friday, December 11, 2009
Missed an Excellent Trade.
I was sitting here watching M fail to layer up and it slowly starting trickling down and what happened was I missed the market as it traded 1107.25 I put a limit it at 1107.50 it didn't get back to me and it got away. Rather than going market I missed out on an excellent trade but chasing can be a dangerous thing and I rather miss out on a trade than get fucked on shit fill. Oh well better luck next time!
Out at 1104.75
Volume Resistance was at 1105.25 We got close to it and stalled I wanted to take some money and I did.
Long at 1103.50
Keeping a close watch on this trade we just layered into the IB, and if we can stay in this area I will feel more comfortable with the trade. If it fails to stay in the IB I will get out.
Value Area Low Test
I am waiting for bracket F, if it layers back into the IB I will buy it if not I will look to get short. We tested yesterday's value area low and held.
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