Thursday, May 7, 2009

Thursday: 80.4% - Gamblers Anonymous


Base System: 45W-11L=56T=80.4%
Sub System: 16W-2L=18T=88.9%

Trading Accuracy: 64.58%
Net P&L: +144.60
Net Ponts: +2.5

I traded a total of less than 10 minutes today. I managed to get into big trouble on 5-10 contracts early on. I was down over $1600. After that, I only had time to log on twice. I took a quick look at the market, threw in a range of orders below or above the current price. I was rationalizing that if the market was indeed topping or bottom at those moments (as it appeared to be) that I would be scaled in at current or better prices. To my surprise when I got home tonight - I did indeed get filled and the trades both won. Go figure. This left me net positive on the day. I can hardly call that disciplined trading, but a nice surprise after a hard day at work.

I can indeed say I have won big trading in this manner before though. Having the flexibility to scale in lower and higher and take larger risks can payoff at times. It can also erase a weeks worth of gains as well. I was also without S&R levels which I can see worked extremely well today.

Chart of the day shows how sometimes an initial signal leads to a quick drop and another signal lower. These are not very comfortable trades.

No comments:

Post a Comment