Another semi revenge trade.. no valid entry on what I generally use for my entries again... but this time I do feel the market needs a small pull back.... Nothing can go straight up right??? Why do I keep trying to fight this..... It would at least make sense if I had a VALID entry.... Short 10997 at 10:09 covered 10986 at 10:33 Net today -$103 I think I may have gotton out of this one too early, as it apears there may be some more down side to go...
Another small play... I really should be waiting on my entries.. but instead i'm just trying to hit a few small ones to get my loss back down... buy 1 YM 10983 Sold 1 YM 10988 Net today -$82.... Maybe I shoudl take a break for a few hours and try back in the afternoon session...
If you ignore your signals, how can you expect to be profitable.... You either have faith in the entry or develop a new system. What you are experiencing is a common mistake that kills your capital (one I make still every now and again so don't fret). PATIENCE! Do not chase the market. IT will come to you. There is no law that mandates you be in a position by 9:30. If no good signal appears, then no trade should be entered into..
Patience is something I deffinetly lack... evident by me trading during lunch again today....... And also is the MAIN reason I cant seem to hold a winner long enough... just let go of another GREAT winnner..... Buy 1 YM 10974 at 12:10 sold 1 YM 10976 at 12:54 I watched it run all the way to 10990... could have sold there, got gready, saw it droping and then got scared and got out.. Buy 1 YM 10984 at 12:56 Sold 1 YM 10999 at 13:02 Got back in pretty quick after, sold too soon though watched it run to 11015 right after selling........ Net for the day -$5.56.. At least I have the day back nearly to scratch.. the last trade shoudl have put me in the green for the day.... I'm just happy I was able to fight back from being down to back close to even for the day.. tempted to just walk away for the rest of the week and take a break...
What an interesting day, spent all day trying to crawl out of a hole but by end of the day I did. Came a little short of my +100 a day, but i'm not complaing it was an up day. Had one loss today for 32 points. Had 7 wins for 53 points Average Loss 32 pts Average Win 7.5 pts That is one CRAPPY risk/reward ratio.... Been having a pretty good past few days, this journal was only started yetserday but today marks my 8th straight winning day and I am just slightly below 100 a day average, having netted 760 dollars over past 8 days. Prior to this 8 day winning streak I had nearly a 30 day loosing streak that cost me 3k. So trying to build it back up. I think this journal helped me some today. In the past after a big loss like I had this morning I would have went nuts and probalbly woudl have had a really big down day. Knowing people were reading this I held back from making TOO many stupid revenge trades in a row Day net +$86
Bingo!.... I trade like my life depends on it when I think someone is watching, its like when I do bench press, when I am alone I can do 225, 4 times, when someone is watching I can do it 9-10 times. Its all psychological, I am going to start reading your thread everyday.
patiently waiting for a settup.... seems to not have any volatility here this morning... usually by now I would have jumped into a position just because I was bored... hopefully I remain relaxed and wait for a entry.
Frosty, Went short at 9:17 (Central) at 11101. First half exit at 9:23 at 089. Second half still short.
wow, I am one hell of a jumpy trader Buy 1 Ym 11074 Sold 1 YM 11077 Net +10 on the day... I sell way too soon and for no reason, just afraid to loose big lately so if i'm even remotely unsure about a position I dump as soon as I have a small profit.. Oh well, a few dolllars is better than none.. it will all add up by the end of the day, but only getting 3 ticks on a trade is pretty BAD