Trade Summary
20130903
Long 3 TF 1027.1, 1026.7, 1026.1, -0.0, +0,5, -0.5
Long 1 TF 1025.8, -1.4
Long 2 TF 1024.6, 1024.3, -0.7, -0.5
Long 4 TF 1021.0, 1019.8, 1019.0, 1018.9, -2.5, -1.4, -0.7, -0.5
Long 2 TF 1014.8, 1014.8, +0.7, +1.5
PM trades:
Long 1 TF 1007.4, +0.8,
Long 1 TF 1007.1, +1.1
Total TF -3.6
Not a pretty beginning to the month. Biggest failing today was in stretching out a stp loss, and adding to it outside my money management rules. That would have reduced my losses by nearly 3 pts on the day, but irregardless, it would have been a losing day for me. I did stick to the mm requirement to only take simulator trades after those initial set of losses, until I had posted 2 of 3 trades as winners on the simulator. That allowed me to come back with that last trade in real money for a decent profit, albeit only a dent into my day's losses. I also balked at a bear inflection breakdown play in the TF, but would have had to survive a big whipsaw before enjoying the profits of the mornings big plunge down. And even if partial exits there, would have been stp'd out no better than breakeven. I'll study it all again for awhile this afternoon, to see if anything more constructive should be added to the journal. In general, losing days are the best for education. Winning days have little to teach you besides reinforcement in your trade plan. Control the number and depth of losing days, and winning days can shine.
PM Addendum:
Good signal at the Transition Time for a sharp short covering rally. Lost faith early with it, and had no real runner. This is what you get mentally when playing catch up. You don't want to add to a day already in the red, so when profits do appear, you tend to exit too soon. Is not something I've even attempted to master, that is putting the days losses totally behind when some minimum profits appear. Tomorrow is another day....
