Monday, June 20, 2005
The Dow lost 12 points on average volume today. Advance/declines were negative. I was away for most of the trading day today. Options have just expired so I was able to get away. Gold did not move today but the XAU lost a point and a half. I am going to look to get long gold again. There is a gap to fill within the next 2 points on the XAU and I will get long there when that happens. And if it happens. There are head and shoulders bottoms on some of the gold shares that I follow. The volume patterns are consistent with that. We have disconnected with the dollar. I will determine the measuring objectives tonight and place the orders accordingly. I truly believe that these trades will be successful. 4 weeks and counting. I'd like to see a pullback in the metal itself for it too is overbought. We'll see. Mentally I'm doing OK. I can only control things that have to do with me. Other people will do what they do. How I react to situations is the key. There really isn't much I can do about how other people think. My mind is back on track for trading. Perhaps the latest winning trade has something to do with that. But I can't beat myself up over things that I cannot control. My mind got lost for a little while and I was surprised when I had those feelings again. It had been such a long time, I really wasn't prepared or expecting anything like that. But I guess it's over now. I will say today I realized how lucky I am to be able to successfully trade out of my living room instead of going to a job that I despise or have to work hard at. I am very thankful and fortunate to have the ability that I have. I work hard at what I do but to be able to do it is truly amazing. Again I am thankful for what I've got.
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