Monday the eastern markets dropped, Tuesday they dropped, I tracked some very nice trades as a result of those days as I knew, or expected, a similar trend in the TSE. At the very least a fairly wide swing. I was not able to actually get into the trades, which was too bad.
So, my trend has been to track some very profitable days only to decide to jump in the next day and get churned about in a tight ranging market. Today has been no exception.
The worst of today is I knew that the Eastern markets had at least gained a little, which would lead me to believe that the TSE would be rather tight...or at least Global Gold would be as I pay closer attention to that than the market in general.
So a few small profits and more small losses as I get whipsawed out of trades. I should have waited for the moving averages to close the gap to 1/2 R1. I kind of expected an up day, but overall. If I could have called the bottom I would have done OK but the bottom did not correspond with any of my indicators, so no bottom trades. Although once it was established I could have made two bottom trades as there are three bottoms around the $299.50 mark. Once again, not on any of my indicators so I left them.
I will do some more trading a little later and see how it goes.
Jeff.
Questrade, My direct access discount broker.
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