Registered: Oct 2010
Posts: 770

sTEEL cABLES....

wELCOME BACK... gl

Registered: Feb 2010
Posts: 618

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Quote from jokepie:

sTEEL cABLES....

wELCOME BACK... gl

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Registered: Feb 2010
Posts: 618

Usually my daily goal is to just focus on taking good set ups and exits and not worry about the daily PnL. This week i decided my goal would be to be profitable every day. With lots of luck- so far so good. Even if the gains are small.

The drawback to this is that after getting my acct to the plus side for the day i'm not inclined to continue trading. I'm missing some good trades doing this.

My percentage of winning trades is too low, about 30%. This indicates to me i'm not taking the best set ups. I expect around 45% winning trades and would like to eventually get to the 50 -60% range. For now, just continuing to take it one step at a time.

My in-trade management of the winners has improved fortunately and let me pull out some decent wins to offset the losses. This is a big deal to me. I'm trading more calmly and sitting through normal pullbacks whereas last year i was frequently exiting just to preserve a gain on pullbacks.

I'm using exit targets via a placed order on most trades now where before i was trying to hold for a possible homerun too often. This has helped lock in solid gains instead of hoping a level will be taken out for more gains.

Tomorrow i trade from home so pnl screen shot from this computer for mon -thurs.

Still lots i need to work on and learn.

pnl51012.jpg
This has been downloaded 55 time(s).

Registered: Feb 2010
Posts: 618

Damn. I didn't have a good feeling going in today. Attitude is everything and i need to bring it every day. Confidence and patience.

-7.50 pts today, +5.25 for the week.

Taking trades late in the trend, bad stop placement, bad reads. Amateur mistakes IMO.

I'm currently reading Trading on Target by Toghraie. Think I'll go spend some time with that now. I'm likely going to purchase her study course. I was waiting till my price reading skills improved a bit and then take her course to really get to the next level. Maybe i won't wait.

Looking over todays chart all the normal PA clues and reads are there. Always easy after the fact but they're all things i normally look for.

Next weeks goals will be to be profitable for the week, to come in with a confident attitude every day and to look to act in the price areas i should be trading and not hesitate. Simple.

Registered: Oct 2011
Posts: 247

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Quote from jas_in_hbca:

Damn. I didn't have a good feeling going in today. Attitude is everything and i need to bring it every day. Confidence and patience.

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Registered: Feb 2010
Posts: 618

Thanks CL. I've been reading it and admire his professional approach to trading. I'll give it another look from the beginning. Don't think my wife will let me emulate his life outside of trading.

Have a good weekend and thanks again.

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