The worldwide market was overall bullish yesterday. With that same expectation, I went to the Dow Jones to look for long signals which I found some after I saw a cob and a 3/4 bottom. I went long and saw some not bad profits. I also knew I need to take profits for very short term as it touched the supply zone but greed was getting the best of me as I wanted a little more before I called it a day.
Suddenly, the sell down came very unexpectedly and the market fall. It kept falling and I had some fear as to whether to cut loss or not. I scrolled the entire 5 minute chart to observe again and I saw it touched a small demand area and hence I decided to hand on a little while as the market was to me quite bullish. As you can see from the chart, I longed my last 10 contracts really at the bottom and it started to turn up again. It turned to form a cob and I went to sold with $1000 profits while I cut the rest of my losses with -$4000. I should have cut earlier and shouldn't suffer that emotion roller coaster but said is easier than done. Damn, I should have took my earlier loss and bought more at the bottom as shown in my last 10 contracts.
Ron K - A Game Changer
