Jun 182012

I took two trades today and both I took with only 1 contract.  Let me explain, if the stop is bigger than 2 pts or if I consider it a risky setup, I start with 1 and after I get more information I may add the second.  If it’s a good setup and with trend, I do 2 right away.  Usually this works well for me.  Today it just happened that I got into two big winners and couldn’t ride out the pullbacks and therefore got +4 pts when I could have had a lot more.  Specifically in the 2nd trade I should have added my 2nd, it was an almost perfect setup but it “didn’t look good”.  I just need more confidence.  I’m reading the market correctly, my plan is working, and I just need to execute better.

So will be more aggressive in the coming days to get that 2nd contract on.  I hate trading with 1 lot.

Today’s plan played out perfectly, here it is.  Remember these are tweeted before the open, so if you want to see them before the open follow me on Twitter.

ES RTH Plan: Today I’m watching 31.25 & 27. Those are key for me. If either is support I’ll try a long for friday high and beyond. If either is resistance I’ll try a short. Levels below are 22-24.25 and then 21 CLVN and below that it’s back into big trading range chop.

Above levels are 41.25, 42.75, 45.00.

The longs from Sunday’s globex got hammered. The greeks want to renegotiate everything. It doesn’t seem like much changed. Let’s see what the market says.


My main two levels were perfect.  If only my execution were.


Now that I’m starting to have consistency, I will try to worry best about avoiding losers and non-sense like that.  Sticks and stones may break my bones, but small losses will never hurt me.


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