Aug 202011

I didn’t trade much this week, only 3 days, one in globex and two in US RTH.  All 3 days were profitable and I finished the week with a small profit.  Spending money for our trip.

This makes 15/16 profitable weeks since coming off a multi-month sim period.

My focus for next week:

  • Be more aggressive and enter trades in between my levels (pullbacks)
  • Continue using 2-4 pt stop depending on volatility and target
  • Go for a 2:1 R:R on first scale and more on second
  • Trade on sim whenever I’m not sure

Have a nice week-end and good luck for next week.



  2 Responses to “A profitable week during vacation”

  1. Hi Michael,

    Nice diary.

    I have few questions for your regarding scales and lots and one observation about your latest post.

    Reading FT71 steam on twitter and recently seeing Don Miller’s “trading after dark – episode 6” i realized that trading with 1 lot vs trading with multiple lots is a completely different business. I see you are using 2 lots. my questions is do you think you can still be in positive territory at the end of the week trading only one lot? I ask you this question because in the last 2 months with 2 point hard stop and trading only one lot i quite damaged my trading account. my interpretation is that current market conditions require to adjust one’s trading strategy – on one hand – but also it makes life much more difficult for day traders and maybe trading 2 lots (scaling out 1 lot to hedge position after 1-2 points – would be better. Next two weeks i’m going back to sim trade to see if this plan works out or not. any thoughts from you on this would help.

    Regarding your last posts, entering trades between levels, wouldn’t just mean to destroy the idea of levels and trading plan? I would rather use rotations/pullback to add or cut on a position. As I mentioned above i trade only one lot, so take this observation for what it’s worth.

    Thanks a lot.

  2. UC – Thanks for the great questions. I wrote up a length reply and thought it’d be better to make it its own post:

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