Looking at Daily Charts

[JEHs 10]

Just for the heck of it I will try to posts daily charts that I am watching or trading.

These are not futures, just ETFs and maybe the occasional stock.

 

I'm not sure how to actually help someone else become a successful trader. I'm sure this is not the way but I haven't really seen anyone with a better way. I don't think there is a way. I have come to the conclusion that we are all on our own.

 

Anyway, I am still struggling. Maybe this will help me.

 

I will start with a trade that I have been in for a couple weeks now... yes, all hindsight. Nobody reading this will have any clue if I am really in this trade or if this was just one lucky trade in the midst of many failed trades that i am not showing but, whatever... there is no way anybody here can know anything about anybody else anyway so this is all I have to offer...

 

...and here is the post on my blog:

http://mydailychart.blogspot.com/2011/06/trade-as-it-looks-this-morning.html

if I don't post on TL, I always post here, especially if I actually take a trade, but sometimes just things I am watching or thinking about...

[JEHs 10]

My QQQ trade ended yesterday. It turned out better than expected since the market is really still in an uptrend.

 

I think I might have botched a long I was looking at on XLV...

 

That's the thing about trading off daily charts, the opportunities don't come along every day and you need to be paying attention and take them.

 

The nice thing about trading off daily charts is you get plenty of time to see things and think about them. Maybe too much time sometimes...

[JEHs 10]

I entered a long here on Thursday. (Of course I waited to see if it worked out before I posted it here...:rofl: )

I was able to take half my position off yesterday on the jump up.

 

Actually this is the only trade I have made since that last QQQ trade. I have just been watching.

I have not had time to do any daytrading at all, so this might be my destiny for a while... just trading off the daily's.

The trades are few, but you get plenty of time to think... (That's not always a good thing...)

[JEHs 10]

Now it becomes a question of management... the hard part...

[JEHs 10]

Some frustration but some good news too.

I wish I had gone with the Qs instead of the S&P but that's just how it goes sometimes I guess...