Tuesday, April 6, 2010

Sometimes you're just wrong.

Today was a frustrating day for me... took an outright loss this morning, just sold into something that had no intention of selling off. It happens. It has happened before, it will happen again, and that is the danger of these LH/HL patterns, occasionally they aren't going to cave and they will burst back in your face. Today was one of those occasions. Textbook trade? Yup, so there is nothing more to say and its time to move on.

Earlier in the day I saw a 6B trade that triggered prior to 9AM so in my rules its a null setup, but it was trading 3 ticks away from my hypothetical stop level so I figured for less than 20 bucks a contract I can give this a go. I gave it a go, and it gave my stop a go for a 3 tick loss. Again, not a huge deal.

I took what I thought was an awesome setup later in the day that went +9 in favor before V-Reversing in my face (my target was +11). Nothing I could do other than take a tick as per my rules.

The good? I executed my trade plan well today and stuck to my rules, and my losses weren't horrendous. The bad? One of my trades was a loss and my other wasn't a winner. Bring on tomorrow!

Trade Results:
3 Trades, 2 Losses, 1 Par
Gross P/L: $-86.25/per


E-Mini Player said...

Try to get to 2 contracts ASAP...the Euro FX is a zip market and works a lot better when you can peel some off on the quick pops & drops.

Matt said...

Yea, 2 contracts would make my life a LOT easier. And 3... well 3 I would be able to do AMAZING things :)

One step at a time!