Friday, October 1, 2010

If It Wasn`t Oil, The Session Would Have Been Perfect...

From guest blogger Henrique M. Simoes.....

I was scared earlier on when the economic data points came out, all higher then expectations (remember, I was short ES). I thought to myself, "if the indexes do not reverse I am going to have the worst trading session of the year...". But I was calm and detached, and when I saw the hesitations in the morning rally, plus some timid dollar rallies, I stepped in and sold a few more eMini`s. It was the only play possible.

Unfortunately, the oil rally did not abate and I left a few gold bars in the oil pits today. Someone is buying Moet&Chandon on me tonight. We can`t always win, can we? It was a rough day. I will need 5 or more trading sessions to get back...

I closed almost all my positions as I want to start trading tomorrow with a clean sheet. No bias, no prepositions.

Henrique M. Simoes can be reached at traderhms@gmail.com


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