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5/2/17

Todays Trading Summary: YM/CL/ EXEL Option

I'm ending my day with a small profit, but I clearly over traded today. It's a small win for me that I decided not to trade anymore today.

Full disclosure: I also trade options, when my daytrading is not going well, trading options gives me the opportunity to take some time off from the daily grind.

Correction

I'm ending this day with a loss. Took another CL trade that went aginst me and hit my stop. Began the day with a quick decent profit, kept trading out of fear of not wanting to miss the big monster trade I have in my mind.

Easy Trading

The kind of trading that is quick and easy. I will have to mentally prepare myself for only taking easy trades... How do you know it's an easy trade or not you ask? 

Well, if you have taken the time to trade what you see based on good technicals, you should be able to get into a profitable trade that's working fairly quickly. The hard part is not to get in the way of a trade that is working... see CL chart below for example. If you have to take multiple trades to get back to even, your better off waiting until the next day to trade again. Tough trading comes with tough losses.

I have to remind myself that my trading is a lifestyle, not the end goal just to make a lot of money or to always be right. I still believe that by trading well and allowing myself to be in the zone, the wins and money will follow.

Lot Size: 1
YM: - $28

Lot Size: 1
Option: EXEL Jun16'17 25 Call
EXEL: -$7


Lot Size: 1
CL: -$48


Tota l# of trades: 10
Percent Profitable: 20%
# of winning trades: 2
# of losing trades: 5
# of even trades: 3


Total:- $83



"Better trading ahead!"

YM
CL
CL


5 comments:

  1. Not that it matters, but CL broke previous support, the same area I was hoping to short. Lesson re-learned... A good trade is one that is left alone.

    ReplyDelete
  2. As CL falls further without me in it, I'm fighting the feeling of regret... regret is a bitch!

    ReplyDelete
    Replies
    1. The only thing I can feel good about is that I will be adding CL to my watch list.

      Delete
  3. i agree with your assessment about trading too much to break even. every time we trade, we are putting up money beyond what the PnL shows us. and after a certain amount of trading that number starts to work against us. we definitely need to treat trading like a business.

    ReplyDelete
    Replies
    1. Thanks Rhiese for the comment, you are right about trading like a business, trading like a business would look like a professional who adheres to their trading plan, and avoids decisions based on emotions.

      Thanks again.

      Delete

"Better Trading Ahead!"