Thursday, May 28, 2009

Blah Day

This week isn't going to end with positive P/L. I'm willing to bet on that fact. But what i'm not going to do is start running around with my head cut off screaming "I need a new method". The method works... I just haven't had a lot of good signals. Methods have drawdown periods, and that's a fact of life. I think far too often traders (and especially myself) take periods of drawdowns in their equity curve as a signal to jump ship and look for a better mouse trap. Not me, not this time.

So anyway, onto the action of the day. Took a good slew of pars and then got short in both the ES and the NQ around 12:40. The NQ gave a "get to par signal" and I flattened the position for a small loss (-2 ticks) and then a couple minutes later the ES did the same by literally a hair forcing me to take a -2 tick loss in that market as well about two minutes before it caved to my target. But I traded it correctly and at the time things were feeling stagnant and uncooperative so i'm ok with the outcome. I flat out missed this nice trade in the NQ good for +3 while discussing the grocery list with the fam. Pee'ved me a bit because it was a great signal but the reality of trading is you can't and won't catch them all for whatever reason.

Anyway - again, not a day ripe with opportunity for my method but even in the doldrums I didn't get chomped to pieces. We'll see what tomorrow has in store for me.

Trade Results:

ES: -25.00
NQ: -10.00


Michael said...

Missing trades... sounds like someone else I know. :)

Scalpwiz said...

You take what the market offers, at least your losses were small. Hope tomorrows better for all of us =).

Richard said...

sooo... how's it going this week?