Hi guys, today was a good solid day especially considering I got to the market at 10.30am. I had a new gym workout program that just took the wind out of me afterwards and I needed a break to get some energy back so I ended up missing the first hour of trading.
Today I both shorted and went long but was more successful in shorting CXW which helped make $1,126 after commissions. My new strategy is based on more technical indicators and analysis than the momentum approach and I still have some work left to do before I go live with it.
The most important lessons from today were discipline and patience – especially on CXW. This was already down quite a lot before I shorted it, and it spiked a little bit when I was in the trade making me down -$200 or so for a bit, but then with time it kept sliding downwards.