Thursday, 8 July 2010

A day of poor decisions

The kind of day you hope would be behind you but where the old mistakes. The decision to go long on cable wasn't particularly bad as the pair was forming what I perceive to be a coil. However timing was poor considering the appearance of the pin bar. The afterwards lots of poor decisions to go long, then short and honestly, what the hell was I thinking?
Not helped by setting my stop at 15125. Depending on where in the stochastics cycle you are you need to set the stop accordingly. Very high and the stop should be 100+ pips.

I'm currently long on AMZN@ 114.88 mainly because of the short interest which I estimate to be approximately 1.7(?) - 1.9 as at 15/06/10 so good chance of a short squeeze. Hair raising drop of 80 pips and didn't have the heart to buy in again which is a shame.

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