Monday, January 26, 2009

Day 1 is Successful

Today was a pretty hard day to trade. It was a lot of quick short spurts back and forth and one hell of a consolidation chop fest from around 10AM till noon. It was the type of price action that could absolutely ruin your day and rob you of your money. We kept our heads about us and did exactly what we had planned on doing - we executed perfectly. The end results were a par trade and a winner. One other thing of note was that we once again had another "You're Screwed" setup (remember I got burned by putting on the wrong position on Friday on one of these) and this one too invalidated on entry. Guess what? She didn't fool me and I was ready for it. I let it pass on by and it quickly reversed into what my stop would've been. That's progress folks. Trading is about making mistakes - and making sure you don't repeat them.

The only other thing of note is that we closed out today with a new equity high at the end of trading. +725.00 Gross... The last time we got this high we hit +737.50 intraday and then proceeded to hit a drawdown and finish at +400 on our equity curve that day. We got a long ways to go and we need to step it up a notch. The first two weeks we weren't trading all the setups and we missed a lot of opportunity. Last week we only got to trade two days out of five - this week we are going to give it our all and see if I can get to my next goal - 1,000.00 at the end of the week so I can get me some Buffalo Wild Wings!

One last side note. I will not be trading Wednesday due to FOMC so it will yet again be a short week for me. Regardless, it should be an active week in the indicies with all of the econ news being released. Hold on to your hats!

Trade Results:

+ 150.00

1 comment:

Michael said...

Good job turning a profit in this chop, not an easy thing to do!