Wednesday, January 23, 2008

Gold and Bernie

Well, I knew with a firm committment to keeping stops in the market that a day like this would come. With the fed on alert Gold was trading extremely erratically. Maybe not trading Gold in this environment is better, but I chose to put the faith in my system. Today 3 stops on the 5 minute chart totaling more than 16 points of losses. But if you consider that it was a 30 point trade from bottom to top, where we seem to be closing. If the goal of this journal is to test my method and develop sound trading principles which will keep me in the game longer, then taking a 16 point loss is actually a small victory in my evolution as a trader.

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