Trade Journal (6/15/2011)- You Have To Be Hungry To Become Better

Added 3+ more g’s of unrealized profits in late evening; protective puts and stops in placed. Here’s what I need to work on:

1) Should’ve watch 30-Year Treasury on news of manufacturing reversal. Sometimes after the economic release, 30-Yr T-bond overshot my buy point.

2) On trend-lines reversal due to panic selling or emotional buying (the fear of missing out), I need to watch the moving averages and inverse positions upon confirmation with above average volume.

3) I do nicely, like on July #Lumber, in using the daily chart to find the best time in the day to enter (RSI-indicator). But once today, on a Tweet from a veteran trader about November soybeans setting up on the one-month chart, I opened a long position after confirming on the 1-month but WITHOUT using the daily chart for guidance. Use the daily chart for entry after the one-month chart. Noticed: Twitter and StockTwits can be very emotional and overwhelming, clouding clear judgment.

4) A girl texted me in the middle of an order while July Corn was reversing. During the time, I took to reply, corn collapse further than expected. Note: don’t worry about non-business texts during trading hours.

5) Should’ve bought the protective put on silver when it was higher in high 35-36 range. That is, I didn’t allow enough time for a life-changing profit.

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