Friday, April 17, 2009

Par, Par, and a Par

Three pars today... + 1 tick in the ES net. Got in good moves and they just didn't run like they should. That being said, I am liking the ADX filter more and more. So easy to filter trading environments that aren't kind to me at a glance and whats left seems to be pretty good and conducive to my entries. I think my biggest thing moving forward is going to be trying to get out of the trades that I know aren't working and minimize losses.

Its a fine line to walk because I don't want to become a jittery scared trader jumping out of a move for a tick because I saw the market wiggle the wrong way. But at the same time I recognize that most of my trades that I "feel" are going against me do in fact do just that. As of right now though, I sit back and take the loss rather than be proactive and try and minimize it. But its a slippery slope and I need to be careful.

I just keep thinking back to about a month ago when I started demoing my pullback method and I was just hitting things out of the park that week. A lot of that was because I was jumping out of the ones I didn't like the markets reaction to quickly for small losses or tiny gains and holding the ones that just took off with me and trying to squeeze every last bit of profit out of. When i'm in my trades they should already be working for me. If they aren't i'm going to take the tick or two of losses and wait for the better opportunity to come along. My strict exit and management have been a crutch for me to stick to my rules but now I feel they are hindering my performance.

Regardless, I think the ADX filter was a great change and should help weed out bad entries in the coming weeks.

Trade Results:

ES: +12.50
NQ: +0.00

1 comment:

E-Mini Player said...

Options expiration day...just been chop all morning.