| RESULTS FOR DAY | |
|---|---|
| ES Contracts: | 148 |
| Net $P/L: | -2563 |
| Wins: | 10 |
| Losses: | 6 |
| Win%: | 63 |
| Avg$Win: | 255 |
| Avg$Loss: | -852 |
21 hours ago
Thursday, September 22, 2011
Thurs. 9/22
3:25pm CDT - This day came sooner than expected but given the craziness in the markets today, I’m not that surprised. I took 2 max stop losses with full size on (-$2500 each in this case). In backtesting, that typically happens about once a week. The EU was to blame for the 2nd one today as I was short when they announced they would recapitalize the banks or some such crap at ~1:22 CDT. This week so far has been good at giving me some "in the trenches" feedback with my strategy and ideas I need to test on how to reduce the discretionary part of it. I had a $2600 unrealized gain on one long trade, for example, that I was sure was going higher. I stopped out at breakeven. Unacceptable.
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Nothing wrong with saying "I was sure..." That's why we take the trades in the first place. At least that's my humble opinion. The only thing needing adjustment is that trailing stop..or the use of one.
ReplyDeleteAgreed. I did use one but just trailed to BE! The markets are great at teaching us lessons every day whether we want to learn or not.
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