It was a tough day today. A few friends lost money so I feel lucky to have escaped with a few points.
Just a thought here: My goal is 2 pts/day but I didn’t plan on taking 1 pts on winners. I wanted to average 2 pts/day. To do that I’d need some winners bigger than 2 pts to make up for some losses that are 2-3 pts. But this market is a bit tough in my opinion. I’m just not able to find the bigger trades and when I do I take myself out of them. It’s a work in progress and I’m updating my plan. So I want that to be clear.
I know what I’m doing I know what mistakes I’m making and just being aware of them is the first part of the solution.
Regarding the signals.. I think they have been working well. Sure there are a few failures but many of them can be avoided with a good read of the market & context and trading in key areas. I took 4 trades today and every one of them was on a signal. They keep me out of trouble more than anything else. I find that when entering on a signal there is time to let the trade work or scratch.
I hope you did OK today. If not and you’d like to discuss it, feel free to leave a comment here or send me an email via the contact page.
I have some things planned for the blog in the near future so stay tuned and let me know if there’s anything you’d like to see.