Monday, November 16, 2009

Good week

I am in North Carolina until Wednesday this week, which means that I won't be able to trade or even look at the market until Wednesday afternoon.  It will be a good test to see when withdrawal will set in.

It was a great morning.  I hit my target within the first 5 minutes of the day and then kept an eye on the market until I had to go to the airport.  It looks like the S&P closed over 1,100 today.  That is good news.  We have more financial news this week yet to come out.  Most of it is pre-market tomorrow and Wednesday.  I don't and won't try to make predicitions as to which way the market will move because the market is going to do whatever it is going to do and what it does is all that matters, not what I expect it to do.

I am now learning how to read the individual candles and the story they tell about price based on how they string together.  There is always something to learn, but for me it about focusing my learning and right now my learning is on trade management, which includes candle reading and how to appropriately turn a losing trade into a profitable trade through trade management techniques.

I am looking forward to trading again on Thursday morning.

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