Monday, April 6, 2009

The First (And Last?) Day of the Week

Uber frustrating day today. Took some losses on very good and valid setups in the morning in the NQ. Then the ES was up to bat in the afternoon. I took a win for +1.25 and then 4 back to back par trades. I'm not complaining, i'll take pars anytime of the day but it was SO frustrating to be in GREAT trades, trades that went greater than 2 points and to have been high ticked out of both positions before I could take profit. My management was spot on however, I was at par when and where I needed to be. It was just so frustrating to see these things go straight to my targets without me. The second trade which was the most painful to see smacked higher for all of a second before dropping 2 points in favor. The next trade was another textbook par and wasn't all that great so i'll take it. I traded correctly and that's the end of it. No regrets.

So overall I ended up marginally down on the day ($-2.50) plus a decent amount of commissions but it just sucked taking that outcome for the day when I was in some really great positions that paid good money, but did so without me. That's trading. All I know is that if I continue to put myself in these types of positions i'll be just fine because while they just missed today they will most certainly pay off more often than not. I'm leaving tomorrow morning at 5AM and who knows how the internet will work down where i'll be so the rest of the week is on hold for now. Hell I may not trade even if I can. I need (and deserve) a break from all of this.

Last thing to note was all of my setups were really working well today and especially the final setup I went live with for the first time today. Worked like a charm and did what it was supposed to do.

Trade Results:

ES: +62.50
NQ: -65.00

1 comment:

Michael said...

Enjoy the time off Matt!