Week 8: Day 38

Week 8: Day 38, originally uploaded by 10k10weeks.

Missed the a short position just before opening bell!

Then I caught a nice long retracement move, but failed to cover on an exit signal, and that got me a breakeven. Very sloppy stuff!

The huge move down made an 8 point range, so that was it for the day.

Chalked up a loss of $150.00

Week 7: Day 35

Week 7: Day 35, originally uploaded by 10k10weeks.

Great setup for a short just before the opening bell as it bounced off a resistance at the 1067.00 level. Too bad I just couldn't get filled. What a way to miss a trade.

So I ended up with just a $37.50 profit after I decided to stop trading after the huge move and a half. But I'm down after account for pre-market losses. So it's -$187.50 today.

I also didnt make as many trades today. Was trying to keep away from getting into a premature signal. I guess I was overly cautious.

Anyway, have a good weekend! Weekly update to follow later.

Week 7: Day 31

Week 7: Day 31, originally uploaded by 10k10weeks.

It was a slow up trending day, but I made losses for trying to pick a top. That's what I get when I go against the trend.

So it's a small loss of $262.50 for me today.

Week 6: Day 27

Week 6: Day 26, originally uploaded by 10k10weeks.

I wasn't really excited to trade today because there was no news, and we've just got back from a long weekend.

I tried 2 shorts, but both got taken out before it moved my way (one of them at breakeven). Its just one of those days that weren't meant to be.

So I'm happy to just take a hit of -$112.50 and call it a day.

Week 5: Day 21

Week 5: Day 21, originally uploaded by 10k10weeks.

Nice downward move after the opening, which should have been an indication for me to stop early, but I guess I jut got sucked in!

So its a loss of $375 today. Will try again tomorrow.

Week 4: Day 19

Week 4: Day 19, originally uploaded by 10k10weeks.

Fantastic movement yet again, and yet again I fudged it..

Just two trades today. I was about to stop after the huge move, but there was a really nice setup for a short whilst I was doing this report..

Mistake was I wasn't focused when I was supposed to TP for 3 points. Oh well.. what a bad week!

My daily performance P/L chart seems to be doing a 50% retracement. Perhaps it'll bounce up for a breakout tomorrow..

So its -$75.00 for the day.

Week 4: Day 18

Week 4: Day 18, originally uploaded by 10k10weeks.

Three losing days in a row doesn't look good, doesn't feel good!

And thats especially when I'm sprinkling a couple of errors here and there.

Anyway, I owe it to my strategy that no matter how bad it gets, it won't look like I've been hit by a train. Looking at the daily performance chart, I'm pretty much still on the up.

But today, I'm down by -$25.00.

Week 4: Day 17

Week 4: Day 13, originally uploaded by 10k10weeks.

One huge move up, then one huge move down. I guess it was the perfect sell setup for the big boys.

Anyway, I managed to confuse myself and made 2 error trades, while I missed all the profitable ones.. Gonna have to do some work to get my head in sync again for tomorrow.

Loss for the day -$300.00

Week 4: Day 16

Week 4: Day 16, originally uploaded by 10k10weeks.

A very choppy day. And the signals just didnt work out. One of those unenthusiastic Mondays, which is how I am feeling right now.

There are days when I just feel confused and hopeful, and in when I start those days with a losing trade, I don't usually come out looking very smart.. today was one of those days, but I've just limited myself to 2 trades, so I'm out intact. And that's good news!

As traders, we must always live to fight on those winning days! If there's the chance of just one single day which might cause you to lose your pants, thats just impending disaster waiting to happen. Plan and manage so that you don't ever let that chance occur for you!

So, the loss for the day = -$150.00

Week 3: Day 14

Week 3: Day 14, originally uploaded by 10k10weeks.

Another trending day for longs. Prices just took off after a little pullback on the opening bell.

I took a short, but when I saw the reversal signal, my brain just froze and my finger just wouldnt click the "reverse" button. Looks like I have yet to overcome this issue which I had highlighted just days back.

And one mistake led to 2 other losers.. As part of my trading rules, 3 losers is all I can take in a day, so I stopped trading right after that last one.

Most of yesterday's gains were wiped out.

Total loss for today is $325.00

Week 3: Day 12

Week 3: Day 12, originally uploaded by 10k10weeks.

I'm done just after the 1st hour, but on a losing balance today.

Price movement was very choppy when the market opened. It seems like it was just winding up from yesterday's huge sell and prices met strong support as well.

All my entries and stops were off by 1 tick or so, particularly on my 2nd trade (#27). Hate it when that happens, but it does happen from time to time.

So, I'm down by $175.00 today, matching the largest losing streak so far.

Week 2: Day 6

Week 2: Day 6, originally uploaded by 10k10weeks.

I think today was a great trading day.

Or perhaps it could have been one for me. I'm just getting around to improving my profit taking and breakeven adjustments.

And I've also realised that if I just stopped for the day everytime a big move occurs for me, or when the sum of all trades would equal one, I should actually stop trading for the day and not hand back thosoe profits to the market!

Just going through my logs, if I did that every single day since last week, I'd be up by about double by now. So, that's going to be implemented here as well.

I am retiring early tonight. Have some personal things to handle tomorrow morning.

Made 2 unbelievable error trades. I was oblivious to the trend change.

So, it was a net loss for the day -$37.50. Expectancy numbers took a plunge as well.

Hopefully I will stomp out all these errors soon!

Week 1: Day 5

Week 1: Day 5, originally uploaded by 10k10weeks.

Positive jobs report had the market rocket up by 22 points making its yearly high!

The higher prices went, the more worried I was about getting entry signals around what I saw as ceiling zones. Which shouldn't have been a factor to me executing my trades in the first place.

The consequence was missing a 7 pointer trade. I shouldn't doubt the signals, and just execute them!

Entering a position is the least important element in a successful trading plan, yet it's one of the things that worries me most. I should just let my strategy's expectancy unfold in its natural way and take every single signal that comes.

In fact, that is my summary of Week 1! I missed out on over $1,000 worth of profits over the week for not entering on every signal. Lesson be learnt here.

Anyway, I ended up with 2 entries before the market closed.

Today's result = -$25.00