Friday, May 8, 2009

The End to the First Week

Took one trade this morning and got a par on it. Solid entry though. I really feel like my consistency and my entries have been steadily improving. There weren't too many setups this morning due to the heavy trend off the opening bell so that limited my opportunities. Overall this week I give myself a solid C on performance. I made mistakes, rookie mistakes, that cost money but as far as my overall method is concerned, I think it performed extremely well.

I didn't take every setup that was available and still got caught doing some things incorrectly on various trades that cost me overall profitability. But I am making solid progress. I didn't knock it out of the ballpark this week with good profitability but I did manage to make a tiny profit. I guess that's a start. Considering the drawdown i've been in over the past couple of months losing money nearly every week I think its a good sign that I can trade like crap and still walk away with some money.

Next week I am focusing on executing the signals when and where they happen without flaw and sticking to my management rules to get pars and profit. My net profit this week is roughly 350.00 off of where it should be had I stuck to the rules and taken the appropriate setups. This isn't complicated but that doesn't mean its easy. All I know is I want that extra 350.00 and next week i'm gonna get it.

Weekly Net Profit: +185.00

Trade Results:

ES: +0.00
NQ: +0.00


E-Mini Player said...

Nicely done man! If trading was easy, everyone would be doing it. It's a very challenging profession but you're making steady progress! I'm confident you'll be around for a while. Enjoy the weekend buddy!

Syed Omar said...

good job. live and learn

daytrader233 said...

Good start Matt. Your setups look solid. Keep it up!

Matt said...

Thanks for the compliments gents! Its a slow start, but a start nonetheless!

ryan said...

Congratz! Profit is profit. This last week has been difficult with the stress test releases, stress test news leaks, unemployment, etc.