3:40pm CST - Not much to say other than it's tough to win when you don't follow your plan. That big red opening bar on 2/25 got me to deviate from plan and I threw in towel on week after that. Overall, beans had a huge week and most anyone could see places on this chart to make a killing. I am now working on a more "fool-proof" trade plan as well as thinking of longer timeframe systems that I can incorporate into the plan, perhaps even more focus on swing trading. I know I can follow my rules and I think I may just need more distance away from my recent months of discretionary trading to really put it out of my system for good. At least that's what I'm thinking right now.
| RESULTS FOR WEEK |
|---|
| ZS Contracts: | 19 |
| Net $P/L: |
-2678 |
| Wins: |
1 |
| Losses: |
4 |
| Win%: | 20 |
| Avg$Win: |
239 |
| Avg$Loss: |
-729 |
Best of luck to you MBA!
ReplyDeleteIt's tough to just start following an entirely mechanical trading plan immediately when you've done discretionary trading for a while. I think you're right in saying you probably need a bit more time to adjust. Good luck next month.
ReplyDeleteRemember to find a trading method that matches your personality. If you need to be in total control, system trading is not for you. If you can be totally mechanical, and have trust in a system even while its losing money, than you should trade a system.
ReplyDeleteThink about why your system should be making money. Behind every edge, is a story and reasoning behind that edge. Trading is about predicting money flows, and how traders act in the short term. I wrote a recent post about this, it may be helpful to you:
http://marketowl.blogspot.com/2014/02/as-old-as-hills.html
Good luck.
Thanks all. You are all wise beyond your years. :)
ReplyDelete