Wednesday, August 29, 2007

Aug 29 $1,800 on 124c




Made a decent recovery from yesterdays loss. I took a loss on YM by doing my typical churning routine. I kept trying to go long on YM around 10-10:45am my time, but I kept getting stopped out, which was frustrating because ER2 was showing a bounce during this time period, and I view YM as the more bullish of the 2 indices which made me take a long trade on YM over ER2, but I ended up with a loss. I knew we were going up, so I went long on ER2 even after getting stopped out on YM numerous times and I made back my loses on YM and reached a new intraday P/L high. I've got work in 45min, so I'm lucky I finished trading before I had to leave.

P/L= $1,800 on 124c

The way I see it, I need to find some time to go over my trade signals and trade executions so that I don't find myself churning huge losses like I did yesterday. I was going to trade on the simulator today, but instead I traded small and worked my way up, like I should always do. Overall I'm not stressed out about my loss from yesterday because I know what I did wrong. My loss from yesterday wasn't from taking a huge loss from a large move against me, but it was death from a thousands cuts, (ie Churning)

2 comments:

Anonymous said...

Good Bounce Back!

Anonymous said...

Hi there ,

after following u r blogs i have moved to IB, can you tell me how to A/D in QT. Whats the smbol in IB i cant get it in IB or in QT.

thanks
Bill

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