Monday, January 02, 2006
1/2/06 Size adjustment
I'm only on step 5-6 of Ryan Jones but it has already got me to thinking about a little change in my trading pattern that I can make now to improve my bad days. I adjust my size to my wins and losses. Let's say that I start with 6 cars (contracts) and I lose. I will then drop to 4 and if I lose again then I will drop to 3. Another loss and I'm down to 2 and then 1. This way after 2 back to back losses I will be down to 1/2 my Fooser trade size. 2 more after that and I will be at one contract. I will reverse the order if winning while getting no larger than 6 on a fooser trade.
Another thing I wanted to put in here was the first day of the month trade. There is a very profitable trade made on the first day of the month. It's very simple. Buy the open and sell the close on every first day of the month. Rocky and I are going to log this trade every month this year. I still have a lot of work to do that I didn't get done over the holidays but I will try to catch up this week. I also have some option updates this week. I will be selling some calendar spreads. Buy Jan and Sell Feb or March. Have to look at prices.
Trader X
Another thing I wanted to put in here was the first day of the month trade. There is a very profitable trade made on the first day of the month. It's very simple. Buy the open and sell the close on every first day of the month. Rocky and I are going to log this trade every month this year. I still have a lot of work to do that I didn't get done over the holidays but I will try to catch up this week. I also have some option updates this week. I will be selling some calendar spreads. Buy Jan and Sell Feb or March. Have to look at prices.
Trader X
