Tuesday, March 17, 2009

March 17, 2009 Tuesday Trade #4, #5 Stopped Out :(

Not my day I did two more shorts at the top of this channel on an overbought condition. My big mistake here was over-allocating greater than normal size here, on a week where there are too many things going on (options expiration, Fed, weird morning strength) instead of trading lighter or not trading (also it is lunch time duh), not smart. I enforced my stops, -2.5 points on trade 4 and -2.25 points on trade 5. The day is not over yet but this will be probably be my first drawdown day in 15 days. Charts and analysis below:
Trades 4,5 Screenshot