Thursday, October 30, 2008

NQ Trades 10/30

(Click on images to enlarge)



I'm seriously questioning the logics of using charts for scalping.

For the past 3 sessions, I had stolen quick glances at my 30min and 5min charts.

Today, I didn't even open my chart. I knew roughly where NQ was, coz I was looking at its 30min chart an hour before market opened. But that was it.

Was using only BookTrader once market opened, as I did for the past few sessions.

D's fascinated. I said I'll teach him how to read it.

It's really straining on the eyes and the brain though. And I could do it for max of 1 hour. Once I lose focus, I just lose it. Respond a second too late, and I lose my good entry.

Will reduce my contract size from 2 to 1 tmrw.

Why?

Coz D's back tmrw.

And I expect to be distracted.

It's impossible to ignore D, or ask him to shut up, when he's all excited and wants to talk about his trades.

A talkative D is much cherished.

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