'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Monday, September 19, 2011

The market drops in the open and a selling pressure significantly follow through.

But the bears are quite very careful after that waiting for the sentiment or some pulse from the economic views/news especially from the overseas, the Greek problem.

Right now the market is just a waiting game or what might call the "directionless".

But who knows it might pop up later before the close.

I traded early and got chopped off.

Was early to put on a trade, I forgot to watch myself...my left brain did not act the way my right
brain thinks...

That's the problem in trading psychology...if you are not thinking rationally...you will trade impulsively...

Good thing I calm down a little bit and was able to analyze the market and made a good trade enough to cover the costs...

That's what trading is all about...watch yourself and think rationally...
Target sell limit got hit for a gain of 60 points...
Moving sell limit at 11260...
Moving the stop to break-even at 11200 and putting sell limit target at 11250...
Bought at 11200 again with stop at 11180...
The market lack conviction on the part of the buyers...got stopped to break even...
Moving the stop to 11200 to break even...