$$$aving Money

The two moving averages seen in this chart are the 50 day (10 week) and the 200 day. They didn't seem to mean a thing as the market broke both and didn't look back. I didn't really trade much today, and with that, I think I traded too much.

Commodity Fund was down a normal 1.6%...that's fairly average for a down day since I place my stops pretty much in the same place everyday. Gold however ended the day up pretty big (up $10). Sad thing is I was long today, but just couldn't hold past my stop. It happens. Discipline, Andy, Discipline!!!

I did take a short in the Nasdaq that covered that small loss in my fund, but also played a little too much in oil wich gave that back. So..scratched the day give or take $60.

Good thing I didn't take that short in the oil that I suggested. It seems backing out of that trade yesterday, as well as saying "watch out" for all the indexes as they broke those previous lows, were two of the best calls I have had in a while. Unfortunately, not all good calls result in making money. Some just result in saving money.

And that is a big part of trading...Saving money.

Anyone who has traded can tell you this: a trading day most often can look like this: up $20, down $100, up $300. You can't just count the up $ trades. P&L consists of winners and losers. What I am trying to say, is that even bad traders have made money...they just lost more than they made. I just read someone who said in their BEST year, they lost 150 million dollars. That same year, however, they made 300 million dollars! (not an exact quote). Point is if you can limit those losers, then...well, I think you know what I am saying. I have a tendency to ramble and make stories longer than they have to be. So with that....I pretty much focus on trying not to lose money...the good money-making trades will present themselves.