Tuesday, October 18, 2022

Crazy IWM Day

Today was one of those days I should have just walked away in the morning. I was down for awhile and never got any good setups on for awhile. I get really determined to come back and took way to many mediocre trades and had a bad red day. It can be overcome but I need to get better at just taking a break if there isn't a clear direction on stocks or IWM. This was one of the choppiest days I've seen in awhile. Huge gap up run and then down and then back. I wasn't reading IWM well and was doing horizontal trend lines. I have success with it with just regular trend lines. The horizontal gave me some bad ideas in the afternoon to long at resistance when I saw a triangle. Bad risk management today and selectivity. We might go into a range here on major indexes. Any rally might take awhile based on todays lack of direction. I traded USO a lot too and caught some good moves on it but IWM was the downfall. I can see good moves coming when the candles get longer and price moves faster. It's getting easier to spot those. USO moved a lot smoother many times. Looking at how I was looking at IWM I was on the right track in the morning but right at noon the chart almost became unreadable and untradable. Should have just switched to stocks or walked away or even USO might have been better. USO was tough in the afternoon too.

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