Wednesday, March 28, 2012

Wheels went wobble wobble

Total gross profits:  $-125.00  -2.50 ES points
Total trades:  11 [4 scratch]
Accuracy:  42.9%
Execution score: TBD%  [but it was low]
Opportunity cost: $tbd

Sounds like our kids are a little sick, so it's a quick update today.  Read the markets pretty well, but execution was lacking.  

Early on, had multiple +1.50 trades which didn't get +2.00, so that created some anxiety.
A couple of full stop losses then triggered the anti-discipline mode.  Tisk tisk.  

And the trades following the stop outs were all closed out at breakeven since they went at least +1.50, that is, until the last one (trade #11).

I was short most of the day, thinking it was going to be a trend day down.  But for whatever reason, I could see that the double bottom was going to hold around 14:30, and that there was going to be a sharp move to hurt the bears.  

So I bought at 1394 and held as long as I could.  It was a rogue trade, one that my subconscious told me to take.

 My target was initially 1399 area.  Placed a tight trailing stop, which got tagged just under 1397. It eventually hit 1401.  Pretty much worked according to plan, but didn't execute well, since I was just trying to protect profits, vs. going for big gains.

Another day to think about what I did today, and why I did what I did.  Maybe my trading plan is not suited to my personality and needs to be further adjusted?  Tomorrow will be another day to improve.

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