Our vacation was wonderful. We spent a week in Sarasota Florida enjoying the white sand beaches and alligators (not at the same time). Then we went to Arizona for a week to visit with family and do some shopping. My wife & I managed to get away for a weekend alone in Prescott & Sedona (see photo).
I had one week off of trading and that did me a lot of good. In Arizona I was waking up at 6am due to jet-lag so I traded the US morning session but didn’t get anything to show for it. I finished minus 5 pts. I think it was a tough week but I think not doing homework was probably the main reason for not doing so well.
I had a lot of time to think about trading: on the plane, while running on the beach or in the mountains, during our long drives, etc. I took a couple pages of notes and came back with lots of new ideas. I think taking a week off is very beneficial and I think we should do it, even if there isn’t a vacation requiring it. I did very well since I got back, making 15 pts in 2 days. Homework & preparation were a key part of that.
On Friday RTH I only took one trade, which was a short at OSL. I had a bearish bias and thought the gap fill at 70ish made a good target. With only 1 contract I couldn’t scale and so I took +4 when some buy signals came up. That ended up being premature but I never regret taking +4 because when I don’t I often give it back.
The sell-off on Friday was more severe than I expected, but tonight when François Holland was elected the first socialist president in over 20 years, it suddenly made sense. I think Greece may have similar results and that puts the Eurozone in jeopardy. Friday’s selll-off could have been in anticipation of this kind of outcome. This is all just useless speculation, I’ll just trade my plan and it doesn’t really matter which way the market goes.
Finally, this weekend was the first weekend where I was home and did not do a single trading related thing. I was enjoying my weekends while on vacation and I want to continue enjoying them now that I’m back.