Friday, January 18, 2008

011808 - XLNX - 15mins - Observation

It is getting extremely challenging to even monitor the market, let alone paper trading these days. I don't want to bore my readers with (first-time) parenthood stuff, but taking care of an infant is no easy task! Yes, I'm supposed to be practising my trading, secretly, while I'm at work. But when I cannot even make it to work on-time, because of late-night baby/daddy duties, it makes it extra tough for me to watch the market while I have to catch up on my work stuff! To make things worse, I have been slammed with a very big project that even if I don't have a baby, or trading, I would still have to put in 50+ hours per week of work time! Now factor my lack of sleep every night... well, you get the idea!

Anyway, I did manage to watch some charts for 2 days from last week, and 3 days this week. Amongst these few days, I didn't really spot any setups... mostly because of my rusty skills and observation from lack of practises in the past few months.

Today, I ALMOST entered long on the following XLNX trade, but just like I mentioned, I was very rusty...


Symbol: XLNX
Type: Long

  • I missed the first entry where the blue arrow. By the time I got to work, and started everything, I think was already 6 or 7 bars deep.
  • A potential 2nd entry was at the white arrow. That is also the spot where I was considering a Long entry
  • I didn't because I was just starring at the chart... wondering... and wondering.. and watching the prices blew right by me
  • Anyway, had I entered Long, I would have Stop-out during the next red bar

Well, at least I got something started. The next few months are going to tough. There are even a few business trips lined up. So my posting will be light. Please bare with me. I'm not giving up because I am still very much interested in this! The fact that I've been paper trading for this long, should show you that my interest is for real. Thanks for hanging in there, and thanks for reading my blog!

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