Friday, February 24, 2012
Total gross profits: $12.50 +0.25 ES points
Total trades: 3 [2 scratch]
Execution score: 83.3%
Opportunity cost: $0
"Is there anybody out there?"
[Cue Pink Floyd]
For the ES, Friday was the lowest non-holiday (i.e. excluding Christmas
period) volume since June 9, 2011, as well as the narrowest range day
since April 21, 2011. Seems like most people took advantage of the
shortened holiday week, and maybe I didn't get the memo? It really didn't seem like very many people were out
I took 3 trades on Friday, with one trade that was somewhat mismanaged,
although it didn't impact my opportunity cost. In the afternoon, a nice setup that would have paid at least +2 or more in the
afternoon was missed, but I had just exited a trade where I was nearly stopped out,
then went +1.50 in my favor, and then I finally scratched per my rules.
So I wasn't in the
proper mental frame of mind to do what I should have done when a new setup came up so quickly -- pull 'da
trigger! Darn rust.
I knew within the first hour that this was potentially a dangerous day
where you could easily get chopped up to bits. But you know what, I
didn't get chopped up, and I truly believe that behavior is becoming
something of the past. I'm now less likely now to be tempted to enter the
murky waters, especially if I sense danger, since I have a greater respect for the
markets. And I'm not as interested in pulling out the machine gun just for
the sake of action caused by boredom.
I believe Rogue Grove is finally starting to grow up, and it feels like
some sort of milestone has been reached. This is encouraging, because
I'm still just getting started on my grand journey ahead, and every little bit helps a lot.