Tuesday, March 27, 2012

Back to basics

Total gross profits:  $300  +6.00 ES points
Total trades:  3 [0 scratch]
Accuracy:  100.0%
Execution score: 100%
Opportunity cost: $0

Perhaps an "ugly" chop-filled-narrow-ranged-low-volume-day like today was a good one to get back to live trading, a blessing in disguise.  No crazy movements (at least until the of the day), to potentially get my head spinning.

Renato is also teaching scalping methods this week on the ES, so it was good to see him make scalping calls in the morning that aligned well with what I was seeing. 

There was a clean and distinct downward sloping trendline that worked well during the morning, so I used it to my advantage to short against it every opportunity I got.  Missed a couple other successful trades by a tick or two, but that goes with the territory.

So in summary, 3 winning trades, and I stuck with the +2.00 target, just as I did the last time I went on a good run earlier this month.  I then called it a day before lunchtime to protect my profits.  

And more importantly, to conserve my mental capital.  I'm getting back to basics.

No comments: