Followers

Friday, February 16, 2007

Friday's Trading Results

"Don't think, just do."

- Horace (65BC - 8BC)

Thankfully, the weekend is here.

Read Full Post.....
Today was a frustrating end to what had otherwise been a good week. My account equity made new highs this week, so that led me to start thinking about the portfolio stop that I was talking about yesterday. Unfortunately, thinking about preserving my account equity also led me down a frustrating path that put me on the defensive for most of the day. It also led me away from my usual routine.
I sold the GS calls for a loss @2.05, but later in the afternoon picked them back up @1.80. I think the mistake I made there was not managing my expectations for that trade. Today was options expiration day, and GS already showed that it had trouble climbing past 219, so I should not have expected it to challenge 219 so soon.
Scalped some ICE calls as it made its way towards a new HoD in the early afternoon.
For some reason, I started to scalp everything in the afternoon. A couple nickels here, and a few cents there. It became a frustrating and mentally draining process after a while.
The Uranium sector would save my sorry butt in the afternoon. Things are so bullish in this sector that even when I executed my entries poorly, I still made a profit on the trade.
I'm glad that the weekend is here. I need the couple days off to get the obsession with my account equity out of my system.

3 comments:

Tyro said...

Congrats on the new highs! You are clearly doing many things well even though you beat yourself over the small things. That's how you improve, but remember all that you've accomplished, too.

Have a great long weekend, Phileo!

Phileo said...

Hi Tyro,

Thanks for the encouragement. I feel kind of worn out now from all that trading, so I'm glad the day (and the week) is over.

zbs said...

Phileo,

Congra for your equity high. I felt same draining when I did many scalp trades without checking signals. Good rest in weekend will put you back on good shape.

zbs