Nov 082010

Yesterday I wrote about my day trading metrics from last week.  I said I need to be more selective on my trades and I need to get more out of each trade.  Today I did just that.

I took 3 trades today, all 3 winners.  I was really patient.  At one point the bund was very slow and was trading at the DVPOC so I did some laundry.  My wife really appreciates it when I can do some chores around the house.  And it helps me to be patient.  You may think of a day trader as having the glamorous life but what I like most is I’m not fighting crowds in the subway, not putting up with incompetent bosses at the office, and I have more time with the family.  That more than compensates for the lower income (I was a IT consultant before).

I made +5 ticks on the first one.  I went with 2 contracts and got suckered out of one of them which put my first target as my only target.  As a result I missed out on the rest of the move.  Not only do I need to be more patient waiting for setups but I need to be more patient once in a trade.

The second trade went +3 and I was patient, only to scratch at breakeven.

I missed a great trade, I just didn’t see it in time.  That happens but I need to be more focused.  It’s easy to lose focus when the market is really slow.

The third trade I got +10 ticks.  And I’ll stop with that last one.

5 contracts traded for 15 ticks that’s 150 euros or $213 and that makes a whopping $43/contract!  That’s four times my average of last week.

The Euro to $ conversion is slightly incorrect due to fluctuating exchange rates.  I do my own conversion in excel so I can keep it more accurate.

I will now focus on keeping it up for the rest of the week. My goal for this week is to average $21/contract which is double the average of last week.

  One Response to “Bund day trade results – metrics on target”

  1. Good job!


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