All I can say for today is that I sure am glad that it was Simulated as I hit my daily stop limit for the 3rd consecutive day. It has been 2 months since I last had such a bad string of trades. I’d like to blame it on bad luck or some external market conditions (things have been pretty slow here recently), but the truth is that I have just been making more bad trades than I typically do.

I don’t know that it is lack of patience necessarily as I was very able to wait for trades today. (Hell, I only had 5 total today) No, I think it has more to do with the impulse control in the heat of the moment brought on by indecision.

The biggest mistake I made today had to do with my exits. On the first trade of the day, I stuck around too long and watched a nice profit turn into a loss. On my second trade I didn’t stick around long enough and got scared out of a trade that would have easily taken me to my Net Daily Goal.

#3 & 5 had some good things going for them but my entry was just premature as I failed to wait for a price signal after getting a couple of converging factors going for me.

So going into tomorrow my focus will be:

1.) Wait for price confirmation before any entry
2.) Have a clearly defined exit strategy for each and every trade

Consecutive Days Hitting Net Daily Goal: 0
# Days Hitting Goal out of Last 20 (with goal of 16/20) : 0/1
Weekly PnL (Stop = -6.66) : -2.60 R-Units
Total PnL this Level (Stop = -10.00) : -2.60 R-Units