Monday, February 26, 2007
2/26/07 discipline
Today I am only grading myself on how I am trading my plan....
Took first 2 trades from 7:00 and was stopped out on both for -1.75 points.
Then didn't take the first good signal after the open and it would have set be back to BE! No guts not glory! So far I'm grading a B. One mistake today. I will have to set a limit on when to stop trading... 2 or 3 mistakes.... maybe only one should be rule.
OK followed plan on next trade and was stopped again and now I'm reversed. Still only one mistake. Still a B for the day for my grade.
My reversal finally scored a point before a stop at BE on the runner.
Trader X
Took first 2 trades from 7:00 and was stopped out on both for -1.75 points.
Then didn't take the first good signal after the open and it would have set be back to BE! No guts not glory! So far I'm grading a B. One mistake today. I will have to set a limit on when to stop trading... 2 or 3 mistakes.... maybe only one should be rule.
OK followed plan on next trade and was stopped again and now I'm reversed. Still only one mistake. Still a B for the day for my grade.
My reversal finally scored a point before a stop at BE on the runner.
Trader X
Tuesday, February 20, 2007
2/20/07 Tardes! I mean trades?
OK, Due to Van Tharp I've found a new found respect and motivation for myself and trading
I've been doing very well the last month because I've been going back to the most basic setup (HOLP/LOHP) and only working on discipline. I've really come to realize that you can't predict the market but you can make sure you react to them accordingly.... and that means following your signals. For example: This AM trades below
S 56, stp 58, PP +1, stop 56, 5525, 55, 5450, 5425, 54, out +2
+1, +2, +3total
Then I got a long signal at 9:20 and didn't take it. Should have been long from 54 and market rallied to 6150 and is still going! Missed the tarde because I was bias to the downside.
I was up 3 points and should have been up more... not that I'm complaining but.... I will continue to work on discipline every day!
Trader X
I've been doing very well the last month because I've been going back to the most basic setup (HOLP/LOHP) and only working on discipline. I've really come to realize that you can't predict the market but you can make sure you react to them accordingly.... and that means following your signals. For example: This AM trades below
S 56, stp 58, PP +1, stop 56, 5525, 55, 5450, 5425, 54, out +2
+1, +2, +3total
Then I got a long signal at 9:20 and didn't take it. Should have been long from 54 and market rallied to 6150 and is still going! Missed the tarde because I was bias to the downside.
I was up 3 points and should have been up more... not that I'm complaining but.... I will continue to work on discipline every day!
Trader X
