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Leo00o83's Trading Lessons

Friday, March 27, 2009

Weekly Review - back above water again



It was a wild week that tested my nerves, patience and emotional control. It was all about how to hedge PCLN after I added on the dip. Unfortunately, I chose a super strong, straight-up, no pull back whatsoever BMS and kept averaging up till the gap down today, which also refused to break even 1 freakin' horizontal support level on the way down:

So since I expect a reversal next week or the week after that, I had to find hedges for more downside in PCLN:




and here are potential shorts for the next 2 weeks:



As for potential longs, they are plentiful, but mostly in the technology and services sectors.


Posted by leo00o83 at 5:22 PM

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      • Weekly Review - back above water again
      • Cumulative new highs-new lows signaling rally migh...
      • Unbelievably overbought
      • New low buy target for SPY
      • WMT - call selling strategy
      • AXA short idea
      • 3 weekend Links
      • I survived this Quadruple Witching Stew
      • Commitment of Traders Analysis for 3-10-09
      • There's something fishy in Divergence Palooza
      • VIX:New lows signaling end is near for this artifi...
      • PCLN
      • BBY short idea and Weekly Review
      • SPY Potential 162% fib reversal level
      • FDIC insolvency warning and regional banks tanking...
      • Hedging portfolio with total average ATR
    • ►  February (13)

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leo00o83
Las Vegas, United States
I'm 26 years old and have been trading for over 2 years now. I have no formal education about trading. I just read many good blogs like Market Rewind and Brett Steenbarger's Traderfeed for ideas. The more experience I get the more clear the market looks like and the easier it is to control my fear, greed and hope when trading. I'm a technical trader. I used to swing trade stocks a lot more often when there were plenty of technically appealing mean reversion set ups. The melt up of '09 has shut me out of stocks and made me adapt to other markets. Now I mostly scalp currency futures and sometimes even swing trading in very carefully selected situations.
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