Friday, December 2, 2011

Final days of SIM trading

After accidentally trading live last month, then saying "what the heck" and continuing to trading live, then suffering some ugly meltdown losses, then going back to SIM with tail between legs, then doing a lot of various experimentation with trading styles, then digging deep into the psychology of trading, then understanding my strengths and what works for me, then finally settling down and writing down a trading plan I'm totally bought's time I start trading live next week.  

This time, I'm ready.

* * * * *
The final days of SIM

Thursday, December 1
Total gross profits:  $87.50   +1.75 ES points
Total trades:  4  [1 scratch]
Accuracy:  66.7%
Contracts per trade: 1

NOTES:  Wasn't able to start watching the markets until 1:00 PM, and I ended up taking 4 trades, one of which was a loser and 1 scratch that I closed out at b/e. However, if I had just stuck to the plan, the scratch would have turned into a full win. Opportunity cost was $140.

Friday, December 2
Total gross profits:  $400.00   +8.00 ES points
Total trades:  14  [0 scratch]
Accuracy:  71.4%
Contracts per trade: 1

NOTES:  Late start, did not start trading until 10:15 AM, well after the unemployment report was released.  Ended up having a lot more trades than expected (and desired), since I became fixated on the 1250 level during the lunch hour and had 6 trades during that time.  Although the bottom line was fine, I was less than satisfied with the quality of trade selection during that lunch hour -- net result was -$100 gross.  There were also 3 trades that went nearly +2 (missed by a tick or two), and closed just above breakeven (just wasn't lucky).

* * * * *
An interesting update is how well the 5 minute chart I update during the day is integrating well with the Diamond Setups system.  In the chart below, the dark green highlighted areas represents good locations for trade entries. 

So when a DS setup also lines up in those particular areas, I believe it increases the confidence level for that particular trade.  Therefore, this may help to increase the overall accuracy and profitability of my trading, although further tracking and research is necessary to make sure I'm not fooling myself.

No comments: