Not shabby, atleast you were net positive and your winners were larger than your losers. Where are you not satisfied? Has it just been a long streak of not much increase in equity curve?
Given the opportunities that are obvious at the end of the day and the small net profits, I feel the profitability factor is statistically weak. Only 1 or 2 trades out of 10-20 are making the difference, so a small change in the market that goes against my methodology would cause it to become a losing proposition. I want to see better statistics.
Well the behavior in price late yesterday left me warnings that sellers were exhausted and we were not going to see another leg down. Normally I heed the market's advice, but I was too stubborn yesterday and kept shorting it.
Tough day, and enough damage has been done. Time to call it a week. Most of this is commissions, so my broker better send me a thank you card.
By the way you guys notice that today is the first lower low NQ made on the 60min/daily chart since Aug 8th... I wonder if this is the real deal and we break Aug 8th low now.
Yes 2134 important.. Interesting how PA gets downright ugly mid day during these days that result in EOD lows.. Stock values are VERY important to the consumers social spirit (spending) so serious fighting going on.
To those that gave this journal good ratings, Thank You. I have always felt that ANYTHING that I feel will help me become more profitable, including posting my results to strangers on the internet to push more discipline on me, is worth doing because trading is such a tough business. That's why I have much respect for traders embarking on this journey to try and carve out a living. I know how brutal trading can be on the mind and body, and you will reach some of your lowest and darkest moments. At some point, when you start to get it, there is this glimmer of light at the end of the tunnel, and everyday you move closer to it, it gets brighter and brighter. Treat this like a business and don't get caught up in the ups and downs that you will face everyday. Every loss or losing day is just a micro fraction of all the trades you will take for the rest of your life.(They will have to pry the mouse off my cold dead hands before I quit.) When things are fuzzy and you just took 5 losses in a row, take a step back and listen to the market. Refocus and get back in tune with the market, because you will make back every dime you lost and then some. That's just the way this business works.
Nicely said Instynct. Appropriate for today. Whippy moves last half hour chopping me up. not getting the follow through i expect. oh well . taking a break to review then see if any good set up occur.
What keeps me going: If there can be consistent losers in trading, markets are not random therefore there can be consistent winners.