Friday, July 12, 2013

bad day

Well, I had a terrible day with the futures...

I had pretty much one correct entry all day -- which I lost on anyway because my stop was too tight and that was because I entered a bit too early.

This is a simple game but it's not easy.  It requires total discipline and attention.  I started getting frustrated, I knew I was frustrated, and took two more bad trades anyway.

 Meanwhile the IBD stocks are mostly doing great.

I basically should be doing the same thing every day but I seem to be making small adjustments to my rules every single day which means I'm having to think and make decisions rather than simply observe and act on patterns I know have good probability.

My losses were contained but that's not the point.  It was still awful.

And it's worse that I was leaning bearish /tf at the close and finally gave up before the easy -- ridiculous 40tick give back.  One trade could have wiped out the entire day of losses but I wasn't in for that one.

What did I learn?

1) the patterns with the market signals will work.  I have to trust them more.
2) Can't go off and trade /nq or take other pattern entries that are not clear as day.
3) Must accept the process will have bad days.
4) Analyze them, learn from them, then move on.

Anyway.  I'm relaxing this weekend and plan to come back Monday and start over again.

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