Tuesday, June 9, 2009

Tuesday: Pressed for Time - Net +8 Points 86.8%



Base System: 33W-5L=38T= 86.8%
Sub System: 13W-2L=15T= 86.6%


A reminder for those who are new to the blog:
The above percentages are the sum total of all signals from the system (per day) which started this blog. Sometimes I use those signals and sometimes not, it depends on how clearly they form.
My actual P&L sheets show a mix of styles and entries. I have evolved as a trader since I started this blog as far as seeing opportunities aside from the system. That is from "screen time" and is an important aspect in learning this business.

The "chart of the day" may be a trade I actually took, or just one that looked like a great signal.

A nearly perfect performance today. 8 trades and 8 winners. A few were near scratch trades where I just wanted out. Some I got back in on, others not. I have been starting the days off lately with a premarket trade while getting ready for work and find that I am much more relaxed from home. I am trying to make progress in being more disciplined in some key areas, see below.

1. Honoring stops (unless it really looks like the move is still coming)
2. Being more selective (patient) in signals.
3. Keeping the simulation as realistic as possible.

Chart of the day shows what was a really clear signal to be long right at the start of the lunchtime doldrums. Although the volatility is down from when this blog began, I see signals right through lunch all the time. It could be the system is so sensitive it picks up everything, even 1 pointers or less.
Price Action coding update: The price action setup I coded as a paintbar had 4 winners and 1 loser today. Sometimes I was in the same trade for other reasons, which was interesting. Currently I have only coded it for shorts, so I am not able to track how many longs it may have had today. I have been trying to spend less time on trading research lately. Stay tuned.

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