Thursday, January 6, 2011

Short TF @ 794.50

I went short on the TF @ 794.50 premarket and I have just covered at 791.60 for 2.90 points. Not a bad trade yet I couldn't stomach holding the short position yet again as my target would be 788 which would be where the pivot is. I think I have a case of bullphobia which can only be described as a psychological disease that causes me to cover short positions at the first sign of a bullish candle on a 1600 tick chart whenever I trade the e-minis!! I think it's a case of having bad experiences from 2009 when I completely misjudged the market and got run over because I was too bearish. In any case I feel more comfortable trading this market from the long side (it is the easiest side to trade of course - going with the trend) so until I work on it then I know I won't be a complete trader.

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