March 2nd the afternoon missed...chart analysis

Oh well. I considered trading in the afternoon, stuff came up so I was not near a computer long enough to check any of this.

While I may not be actually trading every day I feel that it is still important to analyze the charts afterward, and during in some cases, to stay familiar with the action and to notice any particular patterns that emerge that may have been missed otherwise.

I have changed my format a bit here so rather than carrying on about the trades I put the notes right on the chart. I figure this keeps my word count down, makes the notations mean more and makes the written notes relevant right where they are needed. I used to do this for my charts and I found it problematic due to all the lines and notes I used to keep. Now with the pivot points and the simple moving averages being all that are on the chart it is a much cleaner notation environment and easier to keep up. So just click on the chart for the full view and you will see pretty much everything.

Do Keep in mind that these are as much for me to keep track of my ramblings as they may be for others to read. So if anything isn't clear and you would like it to be then let me know. Otherwise, read or ignore at your leisure.

So here is The Global Gold Index for the afternoon trading:

I did a quick estimate on the trades in the PM, out of curiosity and found 51 cents per share (at 400 shares over four trades that is $156 net.

I am finding that in order to be consistently profitable I think that more time might need to be spent in front of the computer. While I am not trying to scalp every small move with huge position sizing, the "classic" day trading stereotype, I don't think that I can do the 1 hour in the morning and be profitable every day due to the large and fast moves early on. They are great when they materialize but they are a little aggressive, not to say that I won't trade them though.

Jeff.