Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Thursday, September 19, 2019

Right but still wrong

Did a stupid thing today.

Couldn't sleep last night, something I ate because my stomach made all sorts of unpleasent sounds all night long. After watching about 20-30 you tube videos, I decided to see what the market was doing.

I was long and tried to sleep while it was in progress but ended up not sleeping at all so got up to see it had went in my favor and then scratched out. I had a break even stop on it so I could sleep peacefully.

Then I finally got to sleep around 3:15ish and got up at 6AM. Made some coffee and decided to see what else I could find.

Turns out a nice trade area but I was so sleep deprived I should not have been making money decisions in that state. It worked but it was still the wrong thing to do.

Another thing that happened today was fear. I have been making new equity highs all week and I know it has been happening but this morning, I started thinking about it and I started to fear I would lose. I was able to suppress that fear and still trade well but that was a fear I have not felt in a long time.

I have decided to take a few days off and let the success this week settle in and let me get over new equity highs.

Wednesday, September 18, 2019

Sill short

Still a long way to go to close the gap from Monday but I think it might take a few more days and therefore I take my 30-40 ticks and be done for the day.

Today was pretty easy. Just sell the untested level, make sure my exit point is within reason and my bail out point isnt to far away just in case and go.

I was watching on all time frames but it was most obvious on the 1M chart which is where I took the trade and then monitored it on the 5M chart. It didnt need much monitoring as it went straight down from my entry point. That is the way I like a trade to work, quick and easy.

The weather is finally turning nice here and I am sitting outside trading on my iPad and drinking a lovely cup of coffee. Time for some meditation and then off to the "real" job!


Tuesday, September 17, 2019

Short bias

I'm still short biased, so took one with the smallest risk I could find and it paid almost instantly. I think it has room to run a bit but there is significant support in the 61.58 area. Its where the gap open occurred and price has been there twice already so until that breaks, shorts for guys like me need to exit before that level and today, I choose what I call an inside swing level on the 5M chart to exit.  Good for 40ish ticks.

Monday, September 16, 2019

Discretion today.

Got up, saw a nice short opportunity, got in, was up 15-20 ticks then saw the $10 gap up, knew I was on the wrong side and bailed out with 10-15 ticks and walked away. I figured it might be pretty volatile today but in all honesty, it was just buy and hold but I was on the wrong side of that and I knew I wasn’t gonna shake the sell side bias.

Tiny money today but better than fighting a trend all day.!

Friday, September 13, 2019

One and done

Yesterday, 3 and out. Today, 1 and done.

I couldnt see bigger targets but 30 ticks is enough for me. Should have added but entry point was further along in the trend on the shorter time frames than I liked for added risk so left it alone.

I traded every day this week, one loser day and 4 winning days. A new equity high for me I think and going into the weekend on a high note. Roll over next week so probably wont trade that day at all. Maybe not at all until the volume is clearly higher on the new contract.

Time to go. The weather is beautiful here in sunny AZ so time to enjoy it. Its been a super humid summer which we are not used to so having the dry cool mornings right now is such a wonderful thing. I'm back to trading outside again with my laptop and my iPad. I have to say its my favorite way to trade!