Monday, August 06, 2007

Review of Today's Trades

Read Full Post.....
I called the bottom today in the Nasdaq100 eMini Futures.
That was the good news. Unfortunately, calling the bottom isn't even worth the binary code in which it was transmitted, if I am unable to take advantage of the bottom call.

Next time, if I am going to call the bottom, I should at least have the sense to check the hourly chart so that I would realize that 1926 was also a few ticks away from Wednesday's Low, hence it was actually a double bottom on the hourly chart.
Had I realized the double bottom on the hourly chart, I would have been a little more confident to risk the initial 50% retrace, and subsequent 20+pt run-up.

No comments: