Wake up! Summer is over , it is time to start trading again!
I was giving myself a break for the past few days. I refrained myself from reading any chart or trading related material. And I totally forgot about trading. My mind was freed from the stupid buy and sell thingy.
It’s time to trade again. I think now I am dumb enough to do dummy trading. So, I know I will do better this month.
I do not play golf, and I don’t know how to play. A dummy. But, I like the way Tiger Woods play each game. And his story always inspires me.
btw, I got the link from Howard Lindzon
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Summer is over. Most likely we are seeing some changes in term of volume and volatility. Well, I certainly hope so!
Here is the economic calendar for the coming week.
Weekly Economic Calendar
| Date | ET | Release | For | Consensus | Prior |
|
Sep 06 |
08:30 |
Productivity-Rev. |
Q2 |
1.6% |
1.1% |
|
Sep 06 |
10:00 |
ISM Services |
Aug |
55.0 |
54.8 |
|
Sep 06 |
10:30 |
Crude Inventories |
09/01 |
NA |
2481K |
|
Sep 06 |
14:00 |
Fed’s Beige Book |
. |
. |
. |
|
Sep 07 |
08:30 |
Initial Claims |
09/02 |
NA |
316K |
|
Sep 07 |
10:00 |
Wholesale Inventories |
Jul |
0.7% |
0.8% |
|
Sep 08 |
15:00 |
Consumer Credit |
Jul |
$7.0B |
$10.3B |
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I skipped weekly review for the last trading week of August. Only one trade was made this week with 0.15-R gain.
I am not sure if I should say August is a tough month. By saying this, basically I am blaming market instead of taking up the responsibility of my own trading performance. This is a month of mistakes for me. I have made few mistakes. Not so serious, but it shows my weakness in certain aspect of trading. Complaint will never help.
Anyway, August is finally over, I had some good days (week 1, week 2) at the starting of the month and some hiccups(week 3, week 4) at the later of the month. Overall, I am closing the month with positive note. Not impressive, but I survive to fight in September again.
[photopress:augustMonthly.jpg,full,centered]
I did not trade today. Basically, I did not see anything interesting that can fit into my trading journal Q & A.
I will be away from home tomorrow to settle some personal stuffs, I guess I will end the week early and start trading after U.S Labor day.
by Gav 8 Comments
I was looking for a way to write my trading journal in a short and effective fashion. I revisited Maoxian’s trading for dummies again, and I studied the way he compiled the 90+ trading for dummies lesson.
I found that writing my trading journal in Q&A (Question and Answer) style is something I need to seriously consider. Sometimes, unintentionally, I cheated myself by not writing down my trading mistake. Or sometimes, I am just writing too much of something that is not worth to be mentioned in trading journal.
By forcing myself to answer a series of questions in trading journal will help to keep the journal clean and clear, at the same time, to remind myself about my own trading rules.
This is not new, I know few traders are doing this.
Here are the questions I quote from Maoxian’s Trading for dummies lessons.
1) Why would you be paying attention to this futures contract ?
2) Is the trend up or down? Would you be looking to get long or short this futures contract?
3) Where would you get long/short this futures contract ?
4) Where would you put the initial protective stop?
5) When would you stop trading for the day?
6) Where would you exit the position?
These 6 questions are effective in keeping me disciplined. If I am unable to answer these questions, something is really wrong with my trading.
(If one day, bloggers are able to claim and charge copyright of their postings, Maoxian will no longer need to trade. The copyright fee from dummies lessons should feed him very well 😆 )
