Friday, April 9, 2010

No Trades

To be honest I wasn't seeing much I liked in the first 45 minutes and I had some stuff to do so I skipped out early this morning. I missed a profitable short setup in the 6E for an tough and heat-filled +7. Its weird, when your doing crappy there is no pressure to perform, but the more up days I have the more I fear the inevitable losses that will come. I was actually worried about trading today because in the back of my mind I was thinking that I could screw up my good week with a couple of losses. Its certainly a new kind of fear that I haven't really had to deal with yet but am already taking steps to reign in before it costs me money.

Results this week weren't fantastic. I made a few costly mistakes and only added the additional markets after 3 days into the week but I still think I am on the right track. That's 3/3 profitable weeks back to back which is pretty amazing for myself. Now I just need to work on getting a bit more actual profit. Less than 200 bucks after commissions isn't a whole hell of a lot to work with - BUT i'm profitable. Frankly if I could average $200.00/week in a consistent fashion (which I think i'm certainly capable of) I can add size fairly soon. I'm starting to realize that this profession is not about getting +900 one day, and -800 the next, but coming in like a brick layer and laying just a little bit of profitable brick each day. I'd say my equity curve looks fairly healthy even though its not as upward sloping as I might like.

One of the things i've mentioned many times before on this blog is to not get caught up in the $/contract amount of money your making. Its much easier to make a consistent 50.00/contract each day and add 10 lots than it is to make 500.00/contract on 1 lot. I want to be trading 10 lots within the year and if I kept my performance exactly as it is right now I would be living the kind of life I have been dreaming about for so long.

Trade Results:
No Trades
Gross P/L: $-.--/per

Weekly Results:
Gross P/L: $223.75/per
Net P/L After Commissions: $171.20/per
Win/Loss: 60%
Win+Par/Loss: 80%
Profit Factor: 3.06

1 comment:

TST said...

that 'brick' advice is good. If my broker get a $4 brick per trade, and I get $8 brick per trade - I will be richer than my broker from MY trade. If more than that,let say $999, I will consider it as a bonus, not a brick :-)