ESZ9, Dec 1, 2009

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Day trading and getting whip shawed all day

Today was one of those days where you will swear trading off forever.  I also have those days on the golf course, more frequently, I might add, than when I trade.

I started the day off by getting in a nice short trade a little late as I was hesitant to jump into a trade early on in session.  As you can see the agreement between the CCI and Stochastic was less than optimal, too.  But I jumped in anyway, and ended up with a nice trade.

Then it began…and it really shows the weakness in the system I use.  When then is no semblance of even small trends in the market, you tend to get whipshawed.  I don’t know how many no gain trades I executed, but there were a slew of them throughout the middle of the day.  I should have stopped, but my stubborn nature had me thinking the market might organize a bit better in the afternoon.   I finally got a decent long trade, and decided that was good enough

The method of trading I employ works well in even minimally trending market, but when the market is pure chop, I do not perform well.  I even looked at some alternative methodology but could not make head or tail of the market action.  There will be those days.