Sep 282012

I fell off the wagon today.  The one day of the month I tilt and the market made me pay for it.

I was reluctant to post about this, it is quite embarrassing, but I consider it part of my punishment.  This was a wake up call.  I did well this month and got careless at the end. To make sure this doesn’t happen again I’m going to work on the trading plan.  I’m not rewriting it or anything, but I do want to add some more “watch out for this” so I can try to avoid my mistakes.

On the bright side, I made a lot of progress this month and except for today, traded pretty well and the overall result is positive.  I’ll continue trading 1 lot next month and that should give me enough trades that I can decide if I want to increase size to 2 lots or do another month with 1.  I’m in no hurry.


Sep 272012

I kind of forced this one.  After I was in  I decided it was not a good trade but I thought as soon as I got out it’d drop down.  So I was patient but when I saw selling getting absorbed and buyers becoming aggressive I got out with 1 tick.  In hindsight the trade was too risky and I shouldn’t have taken it.

Sep 262012

Yesterday I didn’t take any trades.  I’m happy with myself for being able to watch the market for 90 minutes and not force any trades.  That’s good progress.

Today I got a short setup and I took it.  Just after I entered something spooked the market and it shot up very quickly.  I had a 6 tick mental stop and a 8 tick hard stop.. the mental stop was triggered and it came 1 tick from my hard stop.  So I got out with a 3 tick loss.  Everything was by my rules so I’m very content to have followed my rules and taken a small loss, even though the market did hit my 2 pt target after I got out.  I did the right thing.