Nov 102010

I was surprised by the buying around 1204 and I started scaling out of my swing trade.  I managed to get out of half with a small profit.  The rest I’m saving for 98 (gap fill) and to see what else I can get.  I’m surprised we didn’t get the gap fill today, but the bounce up wasn’t a total surprise as the market had dropped around 24 pts in 2 days.   It looks as if scenario 3 could be playing out.  We may find out tomorrow.

We’re going out of town to Normandy for the holiday weekend (It’s a holiday here in France tomorrow).  So I won’t be trading unless it’s raining a lot, which it’s supposed to do for the next 4 days.  I’m not sure if I’ll trade real or just work on my trading plan.  Often a few days away does me really good.  My last vacation in August was when I wrote a new trading plan.. and then threw it away a month later!

My daytrading metrics are good so far this week and likely to stay that way if I don’t trade the next two days.  My profit factor is a whopping 42 and my $/contract is $19 which is double last week’s $10.   Next week’s goal will be to improve this number again.  $30/contract sounds about right.

  One Response to “Swing trade update & day trading metrics”

  1. A great summary for the week, Let’s hope this week will rally. I am looking forward to more of your posts…. Thank you for the insight

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