Thursday, September 3, 2009

Getting prepared

Another NG news and another disappointment.

Today NG inventory report came out and it increases less than expected, but NG is -7%. Pretty much during whole Aug and on, without any any pull-back, it keeps going down along with my account size.

Accordingly, I'm getting prepared for the last day of my long term trades. I've been holding lumber since Jan 2008 and nat gas since Dec 2008. The reason for this failure is the fact that I over-traded. My initial plan was to prepare for less aggressive scale-in, but at one point I thought chart patterns look good, so I bought more.

Anyhow, I plan on taking some time off from trading and work once I get out of those two trades.

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