I Made Some Errors Today

Raul3 Mon Nov 9, 2015 4:29pm EST 1 Comment

I woke up rested, had a proper breakfast, saw to my morning preparations, lit my ritualistic death to biotech candle, but still managed to make some errors during the session.

Sometimes you do everything right but still make mistakes—for now I am still human. A few things tripped me up:

Gaps into a new week often get faded
TRIN had abnormal readings which call the first move of the day into question.

The problem with the above two events is they have no data behind them. I never ran a study to quantify the validity of these observations. Slippery footing gives way fast when you get out of sync with the market flow.

As a result, despite coming into the week with a short bias, I was trying to fade the market by 11am. Try is the key word because it felt forced. I managed to escape break even the first time but the second fade try took a drop dead stop—something I have not done in over a month.

Meanwhile, biotech was bulletproof. The industry even shrugged off another Citron attack. I am still short via BIS, but I feel like I am standing blindfolded in front of a firing squad.

When the market gives me a good spine twist I like to make sure my mental game is still centered. I am off to find my inner voice and listen to it until it stops talking o_0

I am also looking forward to hearing The Option Addict run through the investor conference content again. Expert commentary is always useful when assessing your own strategy and approach.