Thursday, April 1, 2010

End of a Short Week

Well I had my A game going this morning but the markets didn't want to play. I had 3 awesome setups and 3 pars. The markets in each case rallied 7-9 ticks in favor each time but my targets were at +11 for these trades and they stopped and reversed for par's each time.


Now on these setups (all were pullbacks) I manage them a bit differently and their par management is already relaxed so I did take a couple ticks here and there on the efforts. In every case my par stops were in no way affecting the outcome of the trade that I could make a reasonable change in a management technique to eek more profit out of these moves.


Anyway, it was a short week and I had my share of mistakes. But I still managed to walk out with more than I walked in with and two back to back weeks of profit is something I don't think I've achieved in the better part of a year. Progress may actually be taking place here!


Trade Results:
3 Trades, 3 Pars
Gross P/L: $47.50/per

Weekly Results:
Gross P/L: $142.50/per
Net P/L After Commissions: $93.45/per
Win/Loss: 66%
Win+Par/Loss: 89%
Profit Factor: 2.16

4 comments:

MBAGearhead said...

Nice job Matt! I've enjoyed following your progress. Keep it going.

daytrader233 said...

The one thing I picked up from my week of testing was that my breakout trades often return to test that same area. If I don't get a clean run I have to be wary of the retrace and manage my stop accordingly. For me, getting the stop to par too soon is bad. (but that's for me!) :-)

E-Mini Player said...

Nice job Matt! Keep it up :)

Khmer Insurance said...

That's perfect you were able to manage it and make profit out of that. I like the way you explained it.