Wednesday, March 11, 2009

Day 3 Traded Correctly

Too bad there were no profits. I took a loss in the morning shorting a valid setup on the 1 minute chart. Reentry was allowed but the signal fired first on the 620 tick chart so I took the trade and managed it off of that chart. Problem being that chart said get to par so I did and I got taken out before the drop. The 1 minute signal was more relaxed, held through the backfill that stopped me out and would've made about 3 points. But the point is, I did the right stuff and fate just wanted to screw with me today.

Later in the afternoon I took a really nice fluid looking setup and got +1.75 out of it to get to par on the day. It was a good trade, good entry, good management, and good exit. Nothing else setup for the remainder of the day. So I walked out with a wash (minus commissions). Frustrating, but its better than a loss so we'll take it and run I suppose.

The only other thing to mention is that the slight changes I made in my entries and void criteria have really done a good job of keeping me out of bad trades this week and especially today. Even the megaphone pattern stuff I implemented yesterday... today there were three of them... and one of them actually did work for profit but guess what? The other two that failed would've erased that and more. And the relaxed trigger? That kept me out of two trades today that could've got me into losers.

So I am improving things but I still feel like i've been spinning my wheels because i've got nothing to show for it thus far. Just gotta keep at it!

Trade Results:

ES: +0.00

1 comment:

Michael said...

Today was choppy, I was lucky to make the couple bucks I made.

Like you said, flat is better than a loss!