Shardy's Day Trading Journey - Day 9 - Sitting and Watching

As I have discussed the markets have been quite wild the past few days. There is a lot of speculation on Europe along with good/bad news making for some heavy swings. Since the markets have been wild and I have lost the last couple of days I decided to take a step back and just watch the market while simulating what I would do. 

One great trade that I notice today was a great moving average pullback as you can see from the chart. Price movied into the moving averages from a pullback creating a buy signal. The result would have been large profits. 

Want to point that this would not have been successful for me a few days ago. I talked about how I was being to cautious having a tight stoploss. This trade would have needed a little over 2 point stop loss which for big money traders can be stressful. 

Sometimes it is good to just relax and get back to basics.