Monday, August 13, 2007

Aug 13 $700 on 28c

ER2 and YM are averaging back to where they should be, with ER2 under performing YM today. ZN has been in a slow creeper trend up for most the morning and ES has been trading inversely. It was choppy trading after the first hour and a half even though the trend looks like a straight line down. In this type of environment it is better to have profit targets in place and to not add to winners by the use of stops on breakouts, but rather, to add to winners on minor pullbacks. I tried adding to a couple winners on ER2 and saw quick reversals with stops getting hit, so I worked on having my profit targets in place and adding to my position on pullbacks/bounces.

P/L= $700 on 28 contracts

My P/L to contract ratio was much better earlier in the day when I had around $450 on 12 contracts. Later in the day I had about 1/3 of my stops hit, so my P/L to contract ratio declined.

Time to go to the gym.



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