Tuesday, September 04, 2007

Trading Results for Tuesday

NQ: made +6pts
ES: made +0.75pts

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Today I was patient enough. I did not force any trades, and I did not overtrade. When ES chopped its way up in the afternoon session, I did not chase, so neither did I get chopped up.

Today, I knew that NQ would lead the way on any breakout, and even stated so in WallStreak. Unfortunately, I was unable to follow through, and returned to trading ES, even though I believed that the better return would be found in NQ. Old habits die hard, perhaps?
I also did not map out a general plan and strategy for today. I think writing down the general trading plans helped to organize my thoughts, so I should continue to write them out.

I did not spend any time in the morning reviewing the overnight action, and noting the overnight ranges, and previous day's ranges. So, I was not as prepared for today's trading session as I could have been.

My trade management definitely has room for improvement, but that might become next month's objective. For this month, I know I will experience the urge to overtrade probably over the next week or so, and it always occurs when I least expect it, so I must remain aware of my thoughts and emotions as I go through the trading session. Today I think I did well, but tomorrow is another day.

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