Wednesday, September 05, 2007

Trading Results for Wednesday

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Yellow arrows represent setups that I was not able to spot fast enough in real time.

Ok, things relatively well for me today.
I've posted my results in a trading journal in spreadsheet form. It can be accessed under the System tab at the pulldown menu at the top of this blog.

Today's big win came courtesy of the real time chat room service that I am still subscribing to. Other than that, I basically did very little today.
I could tell with all the long wicks in most of the candles that it was very choppy trading after the 7am reversal time, so I took it easy, and did not chase, did not force any trades, and most important of all, did not overtrade.

Whether I did well in the aspect of discipline was hard to say, since I made so few trades, there wasn't enough trades to give me the opportunity to make mistakes !

I did review my rules, and reviewed what happened in the overnight session. It did not change my approach too much, which was to look for shorting opportunities. I did think about playing the gap fill attempt, but changed my mind as soon as I saw that double top on the volume chart.

One thing that I can improve upon is to take my setups when the signals present themselves. There were at least two occasions where I passed on a valid setup which would have led to a couple of points profit. It would seem that I have swung the opposite extreme - before I would not hesitate to take too many risks, and now I hesitate to take any risks at all. I think this will require a bit of focus and alertness to resolve. I do notice that my focus tends to decrease in the afternoon session, so I may need to do something during my lunch break to address this issue.

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