Wednesday, September 28, 2005
9/28/05 I'm back...
I have been on vacation for a couple of weeks. Trade Mon, up $100 or so. Tues, lost $1000 (unacceptable). Wed, up $63. I had three trades today.
Open bar break out from 122575 to 122675. One point profit. Then a tick trade from 12575 to 12500, net 3/4 point.
The last trade was a S/R trade. Market hit 12225 and I bot. It broke thru to 122100 I sold. It kept going lower and then finally rallied back to by buy point but not much above.
There are several things I need to work on this week. I need to do more homework before the market opens on S/R level so I know them before the market opens. I am also back to printing off my daily trades after the close and writing down what the reason was for each trade and what I made or lost. I have to have this data if I'm going to be able to analyze my trades in the futures. I should really analyze everynight like I used to do and I am now doing as well. I will go back to blog entries every trade if I think of it. It all just needs to become habit because I am a better trader when I do these things! I need to do this to become profitable.
Yesterday sucked because I started betting big after a small loss trying to make it all back. Next thing I know I am trading 20 minis! While my account is large enough to do this and more I have no business trading that amount because of the larger losses it creates. It will take me 3-4 days of option trading to make that back.
Trader X
Open bar break out from 122575 to 122675. One point profit. Then a tick trade from 12575 to 12500, net 3/4 point.
The last trade was a S/R trade. Market hit 12225 and I bot. It broke thru to 122100 I sold. It kept going lower and then finally rallied back to by buy point but not much above.
There are several things I need to work on this week. I need to do more homework before the market opens on S/R level so I know them before the market opens. I am also back to printing off my daily trades after the close and writing down what the reason was for each trade and what I made or lost. I have to have this data if I'm going to be able to analyze my trades in the futures. I should really analyze everynight like I used to do and I am now doing as well. I will go back to blog entries every trade if I think of it. It all just needs to become habit because I am a better trader when I do these things! I need to do this to become profitable.
Yesterday sucked because I started betting big after a small loss trying to make it all back. Next thing I know I am trading 20 minis! While my account is large enough to do this and more I have no business trading that amount because of the larger losses it creates. It will take me 3-4 days of option trading to make that back.
Trader X
