Mon. 1/09

2:05pm CST - Got off to a bad start but recovered. Thought I'd answer the comments from Friday here with the below chart. I do appreciate the feedback and suggestions. I know the arguments very well on the pros/cons of taking every trade vs. stopping trading after a certain dollar profit or loss is hit, whichever comes first. I used to be firmly in the "take every trade" camp and still mostly am. But I've wavered in my thinking over the past year or so and do see benefit to stopping for the day after being up a target profit amount. But limiting the downside to the same amount as the upside just doesn't work for me. Believing I have an edge in my approach, it make sense to continue trading if I have a few losers in a row. Today was a great example. If I had had a -$500 cutoff in place, I would have quit trading after trade 4 for a loss on the day of -$755. But believing in my trading, I continued trading and ended near even on the day. That's not to say I don't have a downside "uncle" point. But it is not any particular hard number I can live with and will vary based on how I feel each day. Perhaps this too will change someday.

RESULTS FOR DAY
CL Contracts:	20
Net $P/L:	-59
Wins:	4
Losses:	6
Win%:	40
Avg$Win:	179
Avg$Loss:	-129