TIMING

One of the most important functions of trading is Timing. You may be able to pick out stocks well, and learn to read and understand the markets like a pro. But, without timing...you may find it difficult to be a profitable trader.

we were long the FAZ (3x financial short)and covered with a loss of 8% today. That is using proper risk management and was the right thing to do. Had we waited on the trade and bought on a dip we would be doing very well right now. It all comes down to timing which can not necessarily be taught but is approached more with feel and intuition.

We did hit the nail on the head mid-morning by buying some Bank of America puts today when it was going through the roof and made back our losses.

Trade well,
Trader D