Tuesday, February 21, 2012

2-21-2012 Consistency

Had two stop out on ZW and ZC. My setups were proper. The markets took a sudden reversal. It could be clear deck but hit me. Both positions looked promising. I missed two sugar profitable trades because they don't look very good. The setups were there. I wasn't consistently applying my entry rules. Letting fear took over by convincing myself to wait and see. Both turned out to be 1K trade.

A good development came out of these stops is that I am not afraid of ES trades now. The risk is much smaller. I hope I have overcome the nervousness of short term day trading.

I over traded with Vader today. Knowing the trend line and support area down there I still took several unneccesary trades by blindly followed his calls, 5 lossors and one winner.

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