So boring~ ES is staying flat, well, hovering around 1400. When there is really nothing to trade. Don’t trade
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I was playing Chinese Chess at XiangQi Club . I am a lousy chess player. Now it is time for me to pick up this game. Ok, I am going to have another game before I call it a day.
??!
I have just finished writing my journal for Tuesday’s trade. I ended the day flat. And, in fact, it was a nice trend day for ES (E-mini S&P). I mean for day trader. I missed the move in the morning as mentioned in my previous post. I did some quick scalp trade after that.
What is my problem? Choppy day , not making money. Nice trending day, not making money as well? What the hell I am doing? Staying up in the wee hour for …nothing?
After completing my journal, I see the reason. I was not confident with my own strategy. Ok, I have developed some new strategies. (by the way, it is still dummy trading though).? I am not going to discuss my trading strategy on my blog. It is useless. Back to the topic. I saw nice setup, and I had doubt. I just can’t pull the trigger.
Second trade of the day, again a nice setup formed. I pulled the trigger. And? I scratched the trade with some reasons (I just farted, so I closed my position, something like that..). This again shows the problem. In addition of lack of confidence, I was not willing to accept the feeling of taking loss.
You have a plan, but you need have a right mindset to execute it.
Alright, enough, I see the problem, now go solve it.
I am kinda disappointed with myself. I was hesitated and missed the move in ES. I was looking at short entry, and just failed to pull the trigger. I know I am going to make some revenge trades, so I switch off my Tradestation and go to sleep. It is a nice trend day.
E-mini S&P futures , 5-min chart 14-Nov-2006
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I guess it might be Richard who builds a dam. The river is not flowing today.
What a boring Monday. No trade. I am going to have a early night then.
It’s MONDAY!
The market has its own way to operate. It doesn’t care what Michael, John, Richard, J.C or even Gav are thinking. It is like a flowing river, who cares if you are swimming, fishing, bathing or even committing suicide? Everybody get what they want from the river. Get involved with your understanding of the market, and deal with it with a plan, your own plan.
OK. It’s MONDAY.
Have a profitable day.
Another boring day for dummy trade, I did not find any nice entry. I was trying out scalping strategy and basket order of Tradestation. Well, I was stoppped with $50 dollar loss. 😉
Tapeworm at Taleoftape did pretty well this week. Go check out his blog. And of course, J.C, the scalper’s blog is my must-read everyday. You will learn something from him, and…maybe feeling jealous of his performance sometimes. 🙂
I am not posting weekly performance for the time being, as I have made too little trade (less than 5 trades a week). So I will accumulate it and do a monthly review instead.
Hope I got some spare time to catch the new 007 movie today.
