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

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Wednesday, January 4, 2017

-.125%....-.125% for the week

Execution wasn't too bad today. No follow through on the early longs. No follow through on the shorts. I had targets around 51.80 based on the daily support. Never even got close. I did trail out to cover the losses on the longs and reshorted for the reach for 51.80. That stopped out as well. Finally got long after being away from the charts for about 45 minutes. I figured it would go to the weekly VWAP and it did but I had the target to far. Should have monitored it a bit better as the VWAP moved down to meet price. No the other way around. This last trade was a revenge trade. I was tired of being stopped out with no follow through.....last ditch effort to make some money on the day....and it scratched. Should have just walked away. 

Anyway, first two days of trading under my belt and I'm not totally unhappy with execution and risk control. Both have been decent. Yesterday was a loser/winner/scratch day and today was a small loser. I am more or less ok with that. All I really need is two or three winning days a week to make this work as long as I control risk the other days. 

Another good thing is my holding times are going way up. From around 5 minutes to getting close to 30. I did a study once that said if I would hold 25 minutes, most of my trades would reach their planned profit objective. This applied through small ranges and large ones....So even though I'm actually holding longer, the profit objectives are elusive just do to follow through at this point....I know enough to stay with it though as the law of large numbers is in my favor. 


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