New Equity Highs!

I set off today knowing that the Beige Book report was going to be out at 1PM CST. Historically the market tends to wait for this release and consolidate prior to it so I said I was going to trade for the first hour of the day and then walk until after the release. I had 1 trade that went for par, and then a second that was after the first hour, but it was such a pretty setup I said lets go for it and I got paid nicely for the position. Sat out until the news release (and i'm glad I did as nothing happened except chop and blast moves), and then nothing developed in the P.M. as all the potential setups blew away from my entries.


But the silver lining? I hit a new equity high today. That's a good thing - a really good thing. It means what I'm doing is working and it means i'm moving in the right direction. So good work, but we've got to keep it up! Another thing that's really nice is seeing my win rate gradually increase as my trades progress. We're now hitting roughly 80% (including par's)!!!


The last thing to discuss is that i've cut out a setup from my trading. Its something that was responsible for 3k of profits during the last month out of the total 7k. So its a big chunk but the system works on getting BIG winners but hits low win rates. It also currently has no way to get a position to par. Over the past couple days i've not liked what i've seen and I've decided to pull it out from my live trades until we can refine it to a point where the entries are refined further and I have a way to get a position to par safely at some point during the trade. So without that my expected during that month of HIGH volatility was around 3k. So my goal for this month is going to be 2k. We'll see how it goes!

I tried to do a video tonight covering how to play double bottom/top setups but after reinstalling Vista my built-in Microphones on my laptop seem to have gone missing in some type of driver debacle so I can't do any videos! Sorry!

Trade Results:

+162.50