A daily chronicle of results of one retail futures trader trading my own accounts. I define myself as a day trader and generally swing for at least a few points most of the time. But I do make the occasional scalp for ticks too.
Sunday, January 3, 2010
2010 Initial Plans
Trading this year will produce positive results, or else!!! (I say "or else" jokingly.) I believe in positive thinking and know that I can be successful again at this gig. Why else would I be here? I am fortunate that I don't have to take X-dollars out of my account each month for living expenses as I have no debt and have meager rental income that helps pay the bills. I do have 2 futures accounts, a smaller taxed account that I have been trading in 2009, and a larger IRA account that I traded in 2007 and 2008 that I will resume trading once I have a positive sloping equity curve in the smaller account.
Plans for 2010 are general and subject to change but for starters: 1) I will trade less frequently and wait for higher probability trades 2) I will target greater than 1:1 Reward:Risk ratio
If I can be successful at those, the P/L will take care of itself. Either way, life will go on. And my wish is that we all keep things in proper perspective.
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