Ouch!


Well let's all be honest. It's just flat tough right now. I have actually made more trades but they have been in smaller amounts and the profits have been smaller. No hits over the fence this week. I keep my stops really tight and yeah I've been getiing stopped out alot. The tight stops make your loss liveable though and that means you live to trade again. This system has kept me profitable during this ugliness but I'm sure working alot harder for it. I hope things are going well for you. Keep the faith and know that other fellow traders out there are feeling it too. This is a time where we will see our maximum margin bretheren fall by the wayside. The margin clerk will send them back to the corporate cubicle world(not that it's a bad place to be). This brings me both sadness and happiness. Sadness because I fell for them and many of them are friends of mine. Then it brings me happiness because I realize there will be a new crop, bringing new ideas and affecting the moves in different ways.

Thats exciting to me. I want to see new moves. Thats just more ways to make bankage. In the end tahts what this game, this sometimes very cruel game, is all about. Bankage! Sometimes that sounds very sexy and sometimes it doesn't sound very noble. I am not spending my days trying to find a cure for cancer. I spend my days trying to catch price inefficiency.Wow! So I'm not a nobel prize winner. YOU know, the dollars I turn are spent all over the world, and they sure turn over often. Maybe just maybe those dollars will support the child that turns into the doctor that finds that cure. What a cool world.

Times like this are great times to go back and hit the "Big Daddy" site like Bloomberg and CNNFN and Street.com. You can get good long and short term help there. Take the time to learn new things and to look for new longs to hold for awhile after the bloodshed stops. Yes it will eventually stop. And pleas be sure to check out my new homepage here at suite101. Here's the link http://www.suite101.com/myhome.cfm/trade... Stop in and enjoy the gentle breeze in Traders Bay.

Trading is risky and is not for everyone. Please consult a prfessional.

The copyright of the article Ouch! in Day Traders is owned by Bob Tompkins. Permission to republish Ouch! in print or online must be granted by the author in writing.

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