Saturday, November 14, 2009

What happened with TZA Friday and SSO Thursday??

Some quick things, in note style, not prose:

On Thursday I entered SSO and the trade went against me... nonetheless I was "persistent" in holding that SSO all day LOL... I really did see bullish bounce signs, wasn't holding in "hope". (I always say "hope is not a valid strategy"). I could have held the SSO overnight and exited with a profit on it (because it did go up as I expected, but too late), but I exited with a loss on Thurs... didn't want the overnight risk... though the SSO did do the up down up that I thought the pattern would produce...only problem was that the DOWN came on Thurs and the UP on Friday...also I mentioned that the UP might not happen Thursday so I was aware of the risk.

Losses are inevitable in trading.

On Friday, you know that I planned to do a new swing TZA, as I posted this intention. I did enter as planned, then suddenly the TZA stopped behaving, so I sold that for a profit on Friday,instead of holding it. I sold, not for the profit, but because the chart pattern changed and I didn't like it. The TZA has risk of going down, so once again I'll wait... more details on the TZA in post below.

* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".

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