I was annoyed with my performance today… my first trade was a good trade i felt but I had felt some fear and moved the stop too close.. it was at an obvious level where stop runners would push it to… 132500… not very clever. My initial stop was at 132450 which didn’t get hit and would have yield the profit that I had targetted.

In addition, I also placed a trade to short the Dow Jones at 121650.. this was a perfectly good entry and I would have managed to grab some profit or move my stop before it reversed. However, I chickened out and close a little above my entry price. I had felt fear and close the trade prematurely result in a loss.

Overall, I felt rather disappointed with myself. My entries were rather good I felt in these two cases, just my psychology to hold was rather bad.

There was a bad trade on my second Emini short (mentioned in previous article when I shorted at the worst possible place)… that was a result from the frustration of being stopped out of the first trade.

Anyway, here’s the pic of the Dow Jone short trade.. note where I had shorted and then closed, then it dropped where I could have grabbed a good 20 points or so!

Well, back to it. I place my first trade, a long at 132700 with an initial stop at 132450 and a target of 132975. As it moved up a little, I then moved my stop to 132500.

It promptly hit my stop and then went upwards to hit my target!!

To compound it, I got itchy fingers and went short at 132475 and took a 11 price hit.

So, going back live not looking good.. already reach my 20 price loss limit in a matter of minutes. I really don’t know what is wrong with me… in the simulator, I would have done ok and made some money no doubt! Live environment seems to compell me to lose and then rub it in to show me that I was right all along.

I’ve shown only my entries on the chart. The long trade as a good move I think but I was a tad over zealous on the stop. The second trade was just stupidity.

The nice thing about having a blog is that I can put my thoughts in directly after a trading session. As I was having some problems with it over the last couple of days, I wasn’t able to remember what my thought process was on the 6th. I enclose the chart on the 6th. I had made a series on trades and ended up abou 20 prices which was great! However, I don’t remember the mechanics of why I place the trades.

I was also out last night so didn’t trade. My trading mentor is happy for me to go back to the live trading platform which is excellent. I’m live now and watching the markets! Anyway, below the chart for the 6th.

I’m not having any problems with any downtime.. phew!