October 31, 2008
Started October with $26K currently at $38,500. Grew 48% for the month. Was at $54K at one time, but then the market went crazy. But overall still a very good month. Just need to be more disciplined in the entries.
Monday, November 3, 2008
Trade #7
October 30, 2008.
Starting capital $38,500. Short on YM 3 units @ 9,066. Got stopped. Lost 150 points. New Capital $36,250. Did not make any mistake. Just the market nor being sure of its direction.
Starting capital $38,500. Short on YM 3 units @ 9,066. Got stopped. Lost 150 points. New Capital $36,250. Did not make any mistake. Just the market nor being sure of its direction.
Wednesday, October 29, 2008
Trade #6
October 29, 2008.
Starting capital $41,724. Short on YM 3 units @ 9,026. Got stopped. Lost 150 points. New Capital $38,500.
Starting capital $41,724. Short on YM 3 units @ 9,026. Got stopped. Lost 150 points. New Capital $38,500.
Trade #5
October 29, 2008.
Starting capital $44,820 Short on YM 3 units @ 8,981.
Got stopped out @9,131 for 150 points loss.
New capital $41,724.
Starting capital $44,820 Short on YM 3 units @ 8,981.
Got stopped out @9,131 for 150 points loss.
New capital $41,724.
Trade #4
October 28, 2008.
Starting capital $32,579
Long on YM 3 units @ 8,181. After being stopped out after moving my stop up, I have this nagging feeling that maybe moving the stop up was not a good idea. Initially it felt good cause I got stopped with no loss. So I got back in. And damn was I glad to listen to that inner voice.
I woke up this morning and found that while I went to sleep, DOW decided to go to work. It went up by like 900 points overnight.
Sold off my position for a +800 points gain.
I learnt two things from this trade.
1. Stick to your gun.
2. In a system technical trading, you always have to follow the system. I stated this earlier, and this is the exact reasons why. If I had not gone in for this trade because of the previous two losses I would not have made this huge gain.
Starting capital $32,579
Long on YM 3 units @ 8,181. After being stopped out after moving my stop up, I have this nagging feeling that maybe moving the stop up was not a good idea. Initially it felt good cause I got stopped with no loss. So I got back in. And damn was I glad to listen to that inner voice.
I woke up this morning and found that while I went to sleep, DOW decided to go to work. It went up by like 900 points overnight.
Sold off my position for a +800 points gain.
I learnt two things from this trade.
1. Stick to your gun.
2. In a system technical trading, you always have to follow the system. I stated this earlier, and this is the exact reasons why. If I had not gone in for this trade because of the previous two losses I would not have made this huge gain.
Trade #3
October 27, 2008.
Starting capital $32,579
Starting capital $32,579
Long on YM 3 units @ 8,181. Market went up to 8500 and I moved the stop up to my entry price of 8,181. Market tanked suddenly and was stopped for no loss.
For this trade, I was trying a new strategy of moving the stop up to entry price to protect from losing. There have been too many times when a gain turned to a loss. So was trying this out.
Monday, October 27, 2008
Trade #2
October 27, 2008.
Starting capital: $34,816.
Long 3 units on YM at 8,245. RMO produced a buy arrow. CCi crossed -100 upwards. Stop at 8,095. Got stopped for 150 points loss.
New capital $32,579
Market was up almost 400 points only for it to tank and lose all its gains in the last trading hour or so. So this shows how crazy this market is now. So stop loss is really really crucial at this time. Or at all times rather. However, no matter how many times we get whiplashed by the market, we need to be very disciplined and always go in whevener there is a signal. As long as your system is proven to work it will work. Sometimes it is just the market that is bad.
Once you start doubting your system, everything will not work. Cause without a system, everything would be based on feeling and when you use feeling to trade, it is almost like suicide.
Starting capital: $34,816.
Long 3 units on YM at 8,245. RMO produced a buy arrow. CCi crossed -100 upwards. Stop at 8,095. Got stopped for 150 points loss.
New capital $32,579
Market was up almost 400 points only for it to tank and lose all its gains in the last trading hour or so. So this shows how crazy this market is now. So stop loss is really really crucial at this time. Or at all times rather. However, no matter how many times we get whiplashed by the market, we need to be very disciplined and always go in whevener there is a signal. As long as your system is proven to work it will work. Sometimes it is just the market that is bad.
Once you start doubting your system, everything will not work. Cause without a system, everything would be based on feeling and when you use feeling to trade, it is almost like suicide.
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