Today's Trades on the ES (11-Nov-2008)

My goal is $300/day when I trade. Today I grossed $362.50.

Total Trades = 8 (30 min. from 9:32 am to 10:02 am EST)
Contracts Used at 1 Time = 1 to 2 ($500 margin/contract)
# Profitable Trades = 7 (87.5%)
# Costing Trades = 1 (12.5%)
Range of Profitable Trades = $12.50 to $137.50
Range of Costing Trades = $87.50

Total Profits = $450
Total Costs = $87.50
Commissions = $31.92
*Net = $330.58 (33% of capital used)*

What are some lessons learned today?

1. My first 6 trades were all profitable and done in 15 min., capturing $425 (pre commissions). I thought I should stop, but then, didn't listen. 7th trade was profitable and I gave back the 8th trade to net my results. Stop when I've reached my goal which is a net for the day of $300/day.

The things I did well:

1. Was focused with each trade.

2. Had my stops in place.

3. Verbalized trades.

4. Confidentally traded my plan and got out when it went against me.

5. Took profits.

6. Legged in and out of trades.
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