Day trading report Feb 11, 2008: No Trade
I watched the market for about an hour last night and then just went to bed. I was too tired and found that I wasn’t concentrating. My brain was definitely off already.
I seriously considered entering a long at about the vertical line. Then after watching it for a few bars, the price seems to be stuck in a trading range, so it could go either way. Since I didn’t want to wait for long because I almost fell asleep at the table, I decided to not enter a position. It was a good decision because the price would have went below my stop (lowest of past few bars in the trading range) before rising just a 6 index points, and with a lot of struggle too.
For the rest of the day, there were a lot of choppiness and not a lot of big swings. It would have been better to stay off the market because my stops would have been killed.
Although I didn’t make any profit for the day, I didn’t lose any either. So I think going to bed early last because I wasn’t up for it was a wise decision.
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