Yesteday was a holiday in Europe and the markets were slow so I didn’t take any trades. Actually I took a long and got 2 pts but realized afterwards I had forgotten to put my DOM on real money! I hate it when that happens.
This morning I got a nice big trade and then another small one before our lunch. After the US open, I got long way too early and had to scratch that trade. That’s still one of my biggest problems is getting in too early. Definitely a point to focus on in the coming weeks.
ES had fantastic opportunities today, unfortunately they came while I was at the pool. But I’m very happy with what I got.
I’ve done a lot of reading. I brought 6 books and the first two I finished were poker books. My game has improved quite a bit and I think I’m on track to beat the micros. I thought I’d take a break from poker books and read some trading books. I generally don’t read trading books, in fact two of my three trading books are Dalton’s and I prefer to reread a good trading book than read a new bad one (as most are). But this one looked really good. I started it yesterday: Diary of a Professional Commodity Trader: Lessons from 21 Weeks of Real Trading
He doesn’t trade intraday, he swing trades. I put my swing trading on hold to focus on day trading. Reading his book has me interested in trying to swing trade again. I’m not a fan of chart patterns, but in reading his book I realize he is successful because of his trade plan, particularly his trade management. He has a strong focus on risk. And I really like that. I was always too early on my swing trades and always had a drawdown. So I’m curious to learn more about his method.
I’ll be writing more about this as I continue in the book.