3 Weeks Reflections





For those of you visual people, here have been the net daily cumulative results over the past 3 weeks of trading the ES, as well as more specifics of the daily summary.

The Daily Journal would be too much to put on here.

The first week, Thursday, 13-Nov-2008, that was a total outlier and I acknowledged I should not have done that. In the following 2 weeks, I stuck by my rules of not using more than 2 contracts at any given time. The goal is to be able to make $300-500 using 1 contract. As I get really good at doing that, then I can add to trade with 2 contracts simultaneously.

I'm still working out the kinks as I do like to leg in and leg out of trades, so perhaps only legging in with 1 contract at a time, which is what I have been doing may still constitute as 1 contract. Eventually I'll bump that up to 2 contracts simultaneously, which if I'm still legging in and out, it will be with 2 contracts instead of 1, which would mean that I would have up to 4 contracts on the table at a time.

As I continue to trade, I document what works and what doesn't. I may find that it may be too much and have to go back to just 1 contract total on the table. This is highly doable to really support most people's families on 1 contract of the ES.

As you can see, my trading time daily is around an hour. There are 6.5 hrs of trading time in the market and if you trade futures, that is considerably extended to really 23.75 hrs a day, though, outside of normal market hours, the volumes are considerably lower. Trading on my 1 contract, I'm not impacting the market at all.

My plans are to continue to trade again on Monday through to Christmas Eve. I will not be trading on Friday after Thanksgiving and will just take time to enjoy my family and relax, workout, do nothing or something.

I did not put the starting amount for this account, but it's a modest amount and as you can see, in 13 days of trading, with some days where I did goof up majorly, I still ended with a 270% return on my money in 13 days. That's pretty phenomenal if you ask me.

As you can also notice, there are some habits I'm working to break and it can be a challenge. There are some things you'll notice that I do right and when I do, it ends up being quite profitable. I do have some really good days and there are bad days, and quite a few ordinary days.

Let's see what will happen over the next 3.5 weeks of trading and see if I can get the cumulative daily profits to be over $20K. My goal is still sticking with the 1-2 contracts and not do goofy things as I did that first week.

There are a number of factors that do play into my being successful or not. However, the #1 factor is my relationship with Jesus Christ. In Deuteronomy 8:18, it says that it is God that empowers me to be able to create wealth. That is exactly what He's doing, inspite of the things I mess up from. I'm grateful that I do have the ability to learn and to change.

May you be able to find many things to be thankful for this Thanksgiving. And, I challenge each of my readers to be able to daily find 5 things you can be thankful for. When we have joyful, appreciative hearts that are filled with gratitude, it makes it so much easier to be able to receive, especially from the stock market.

God bless you and see you next week.
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