I've been Blogger lazy lately. Here are my results from the past week. It should be noted that I am long 500 shares of TNA from a couple days ago in which I am down roughly $2000. Again, not having a stop killed me. To my credit, I have not averaged a better price by adding to losing trades in recent memory; an advancement for me in my mental battle to succeed in the markets. Now, I must come to grips with accepting risk when I put on a practice trade so that I can take stop losses in stride, as part of an overall trading plan.
I had two nice reads of ES today and was out far too early on both, especially when I caught the 2:15 candle near its low and sold early as it made a dramatic rise through 3:00 pm. I was in beautifully with a possible 7 point gain available to me; only took 1.5 points. I also had a couple lesser trades in ES: one in which I went long a bit too early and took much of the gain available to me on the 11:35 pullback. The other was a shabby reading of the day's major mid-day reversal where I exhibited zero patience for my idea to develop. It was the right idea but was simply too early, and too bold with me so confident of the reversal that I entered four contracts. It would have been superb had I waited another four to six minutes. If I had done so, I would have nailed the LOD. Close doesn't bring home the trophy, though.
