Jun 252012
 

Last week was my first losing week in over 6.   I finished -5.5 pts which isn’t bad.  But my mistakes are what caused me to finish negative.  This weekend I updated my plan and simplified things quite a bit.  So this week will be very interesting to see how I do.

One of the thing I changed was to consolidate all my levels onto my execution chart.  Usually I take levels from weekly, daily, composite, market profile, etc.  It’s nice to have them all on one place.  I really liked it.  It takes some extra work but I think it’ll be worth it.  Plus I’ll have a historical record of my levels because I’m using my Zones indicator to show them.  This indicator lets me type in my levels into a text file and have them on all my Ninjatrader charts.

Here is how my zones worked out today.  I had 2 trades.  First was a risky fade at Thursday’s low.  I thought Globex would be balanced but it kept creeping lower.  I took 1 pt loss on that one. The second trade was after the open, I got short on a pullback but I had to scratch it before the news came out and ended -1.5 pts for the day.  Another losing day!  But at least today I felt like I traded my plan well and didn’t have any mistakes.  There were some good trades they just occurred when I was away from the PC.

  2 Responses to “Review of Monday 06/25/2012”

  1. My last week was negative also. Have been trading EUR/USD, and the erratic market action, sudden whipsaws etc have been v difficult.

    I think we’re seeing un-precedented times as the debt crisis causes markets to cease functioning correctly. Everything is just a play on the next bail-out or lack of it.

  2. Rich – I agree with that. The biggest difference I’ve seen is that there is no room for mistakes. Until mid last week, I was able to recover from mistakes and still finish positive. Since then, I’ve been unable to do that. So part of me says it’s the market that’s difficult right now but the other part says if i hadn’t made so many mistakes I wouldn’t be negative. So it’s tough psychologically. I’m trying to eliminate mistakes and focus on the bigger/better setups and stay out of trouble.

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