"A man is not finished when he is defeated. He is finished when he quits."

Saturday, April 20, 2013

Weekly Gain $256.90


Too many trades this week to fit on a screen shot, so no visual record.
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The week was mostly dominated by my sloppy undisciplined trading on Monday and Tuesday, scrambling to be profitable because I chose to fade moves too soon and then didn't stop them out.
Took a loss on Tuesday and barely squeezed out a gain on Monday; a day in which I should have cleaned up.
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Also playing into this week's trading was a commitment to consistently trade small share amounts until Friday where my final trade of the day was a 1000 share short near the day's price peak and scaling out in 250 share increments as the trend moved down.
Successful/experienced traders recognize when they have asymmetric risk advantage and increase initial size for those trades as well as adding to trades that are working.   I have a great deal to learn in this department.

Friday, April 19 (Gain $203.33)

Decided not to do a play by play of Friday's trading.  Five trades, five wins.  Gain $203.33.
Execution was much better but far from perfect this day.
Made money on Trade 1 by shorting the first pullback, then Trades 2-5 from a short taken near the daily top at 11:30am; taking gains by scaling out as it dropped from 12:00pm to 1:10pm.