Tuesday, August 14, 2007

Trading Results for Turn Around Tuesday

The (more important) goal is to trade well, not to trade often.
- Alexander Elder

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I made a couple more points today, but I am not happy with the way I performed.
For one thing, I posted on WallStreak about how it would be funny if the S&P500 eMini Futures (ES) retraced 100% of the morning drop. After posting that, I couldn't shake that thought out of my head, and spent the remainder of the session with a bullish bias. It was only by chance that trading against the trend today did not cost me dearly. Next time I will not be so lucky.
It sounds like I am once again beating myself up, but I do need to start taking this more seriously. I am still at the stage of consciously incompetent, and lack the committment to take my trading to the stage of being consciously competent.

For tomorrow, I may start letting the first couple of my setups go by in order to practice some patience and discipline.

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