Silly me, I guess I'll just scrap this entire system I've been working on for 3 years. I'll just start trading 20 contracts instead. What was I thinking? I think, I'll start with one contract and go from there. Obviously point estimates vary. I'd be very pleased with 15-20 pts a week. Slow trend up all day. Couldn't have asked for a better first day then this. Last week was brutal sometimes.
Thats 6.75 pts for the day on pace for a good week. I'm done. 2 trades today were good solid ones. My first trade was stupid and I deserved to lose that money. I jumped the gun. Abandoned all rules and got greedy. Didn't wait for conformation of trend. It looks like this thing may fall apart. However, I'm spent and am done. Can't worry about money out there when I have some in my pocket.
Congrats on a nice start. BTW, for your posts please put the timezone next to the clock-time so it makes sense for everybody i.e., 8:22 CST or 10:43 EST.
Novice: Looks like you got a good start with a couple of good trades. Congratulations. If I may ask, on the short why did you get out where you did? Was this on the way back up before it closed, or on the way down before it hit it's low? OldTrader
OT emotionally I was spent. I elected to take the points and run. Granted I missed out on some points. I had support further down. However since it had been a mostly positive trending day I felt it was wise to take the points. I will not allow myself to feel bad about missing out. I'm here to make $$$ not be perfect on every trade. (This is what I try and tell myself)
8:06 MST Short @ 874 out at 871. (3) Reasons for entering trade trade. Trade fit all my systems criteria for a short. Trade sunk under S1 at 875.84. I waited to Short at 874. Trade came very close to S2 at 870. I exited before hitting S2. (3) points.
L @886.5 (9:25) MST out at 888.5 (9:40) (2pts) Reasons for entering trade. Fit Long criteria. MA Cross. Positive MACD. Reasons for exiting trade. Desire to avoid Grinder. Mandatory 2 point movement stop. Approaching R1. Reduced volume. In short it's time to leave. Take D-Mone