Friday, February 27, 2009

I Like Money

It fun making money isn't it? I think i'm going to do more of it. Its kind of addicting. I'm done at 9:15 this morning. I made money this week. Yup.

This morning I took one setup... it stop gunned me a little bit, took me out for -2.25 and then got me back in and popped for a TEXTBOOK +5.25. Done deal.


I screwed the pooch so often this week i'm sure the animal control authorities are on the way as we speak to put me in handcuffs and yet I was able to make money this week with this method. I took a loss I wasn't supposed to, I passed on over 25 points of profits through mismanagement, I wasn't live on the 10 point ES day on Tuesday, and I only traded two days and FIFTEEN minutes and I was still able to make money. Why?

Basically... it goes a little like this:
  • I can identify pullbacks that are actually momentum shifts and avoid them (Never had this ability before).
  • I have less risk on setups than ever before.
  • I have more consistent entries than ever before (no more getting faked out into a market due to one candle!)
  • I have more profit target options than ever before.
  • I can catch runners and manage them (I've never traded without upper target profits that would cap runners).
  • I have not one but THREE ways to get to par. Which allows me more safety, more of the time, in more conditions.
  • MY SETUPS ARE SIMPLE. No divergence, no counter trend, stupid simplicity. Why complicate things?
Next week is going to be epic. I don't THINK it will be, I KNOW it will be. Even after the huge screw ups this month finding my initial entries were flawed, changing tactics and realizing yet again I was overcomplicating the easiest concept in the world, and changing tactics slightly again and finally finding profits and consistency in a manner i've never witnessed in my trading and I feel like i'm ready to do some damage.

We go to War on Monday. I'm going to make the SPOO's my bitch and I invite you all to watch!

Trade Results:

ES: +150.00
NQ: +0.00


5 comments:

E-Mini Player said...

"I'm going to make the SPOO's my bitch"...LOL, that's the spirit! Go get em'!

E-Mini Player said...

Up +12 pts right now shorting the pops :D

Michael said...

Glad to see the new changes are working, that's great!

tradetolast said...

Nice work man. You do know however that the pressure is on - you better not end up being the SPOO's bitch!

Stan

Scalpwiz said...

really enjoying your blog, good job improving your tactics.