Skip to content

The Wonderful World of “What If?”

July 18, 2012

The market rallied straight off the open today, and once again it became a game of patience as I waited for an opportunity to get long.

Without a support line (the one you see was drawn in after the pullback, remember), I was looking to buy at the EMA, but the pullbacks were just a bit too shallow. There is nothing special about the average I’m using, and it’s easy to start wondering “what if I were to try a faster average” on days you don’t get filled, or “what if I were to try a slower average” those times when your stop just got hit. In my experience this is a fruitless exercise. Choose a few tools that are suited to the analysis tasks you need to perform to implement your strategy, learn to use them, and then stick with them.


Daytrading Chart 18th July


I’ve added a 23 period EMA, and highlighted an entry from this in grey. That’s great, but what would have happened on all of the other charts I posted? I don’t know, and while ever my account shows a profit I’m not too interested in finding out . . .

Today left me with a 1.50 point loss, and a 3.75 point profit, so net $112.50 per contract.

View the Complete Chart for Today


Comments are closed.