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The market gives me the sh####

Discussion in 'ASX Stock Chat' started by Iron Man, May 21, 2009.

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  1. Iron Man

    Iron Man Man of the match

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    Well the last week had been more pain than gain with alot of trades getting stopped out. My trailing stop is tight and maybe too tight. I have adjusted the stop to give alittle more room. Being too tight got me out of CFU. Which jumped today up 28%. :banghead:

    Equity has taken a hit with the stops and now I am back into taking profits where they lay. Must protect the mothership.

    Using a tool that is quite good at picking reversal to the upside I have entered lots of trades today.

    BLG,BLR,CMJ,EWC,HVN,MDL,MMX,PAN,SRL,TAH.

    The best out the lot is EWC,MMX.

    The best problem with such a small account is that I get fixed on watching the P&L and not trading the chart. On the other hand the market gives you the profit and you trade the chart and the next day it melts away/:eek:

    Check out BMN I am in since April it must break soon???:confused:

    A strong day on the dow is needed to get these ponies going. If all goes to plan I may be able to double the account.

    Once the account is doubled in P&L I will cash in the account. eg $4000 cash in. Then reset entries and be more selective. Of course the market maybe in a bull run so it may be scaled out. I am still bullish on the market.:)

    Yes I need a feel good intake of big profits.
     
  2. ThingyMajiggy

    ThingyMajiggy

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    which way are you expecting BMN to break?
     
  3. Iron Man

    Iron Man Man of the match

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    there are three ways, up- down - sideways take your pick?

    I am long from a earlier entry, however to enter now I would cover both bases.
     
  4. James Austin

    James Austin

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    where is Iron Man, not made of steal hey?

    try Mercury Man, thats a better approach.

    he'll have more chance at trading success, . . . . flow with the market . . . . ahhhhhhh
     
  5. Iron Man

    Iron Man Man of the match

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    Thanks Austin

    I have been looking into adjustments to my trading style in regards to the objective of making my equity grow. Over the last 4 months its been going up and down around the $3000 mark. My plan is to take some profits early and trail the rest at breakeven stop. Plus some other short term or day plays. Goal is to hit $5000 by end of the month.
     
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