January 15th, recap

Famous last words, "Knowing when to walk away. ", I pulled that from earlier. I think that I walked away at about 1230h. OK, so walking away at that point was not necessarily the best timing. I had appointments for the kids and other work stuff to complete so it wasn't like I chose to...although I am aiming to not be trading in the afternoon.

In hindsight I see that there were half a dozen decent long trades. I was telling myself to watch the 200sma as I waited out the morning, I expected a turn at that time. I wasn't wrong but I couldn't take advantage of it. This is the point of PP200 as the price makes that crossing it serves to set the trading bias for the rest of the day. It is nice when the price opens and doesn't move quite as fast as it did this day. Ths 200sma is more influential earlier on those days.

My target is to trade 4 days of 40 weeks in a year, so missing a few days here and there is no big deal at all. I am not concerned or worried...a little miffed that I could not show a profit immediately but, on the other hand, I also show no loss. My strategy has kept me away form the poor trades during those times when I was watching the market.

This proves that particular part of my plan works as it should, loss avoidance is better than loss allowance.

Jeff.