Today's Trades on the ES (Wed, 3-Dec-2008)

Today I decided since yesterday was a psychologically rough trading day for me (the market was absolutely beautiful, though), that it was best to get back down to the basics and go back to my $300/day goal. Also, there are some person things going on from the past that are fairly negative, so it was best to lay low and not expect a great deal from myself. Guess I held true to that, unfortunately.

My goal is $300 for the day. Today I grossed -$537.50.

Total Trades = 13 (63 min. from 10:32 am to 11:35 am EST)
Contracts Used at 1 Time = 1 ($500 margin/contract)
# Profitable Trades = 5 (38%)
# Costing Trades = 8 (62%)
Range of Profitable Trades = $37.50 to $175
Range of Costing Trades = $62.50 to $200

Total Profits = $462.50
Total Costs = $1000
Commissions = $51.87
Net = -$589.37 (-118% ROI of capital used)

Things I Did Well for Today:

1. Verbalized trades.

2. Traded my plan for the first 3 trades, which were all profitable and just about hit my goal. Just going to do one more trade.

3. Kept my risk low by trading with only 1 contract and resisted the urge to trade more.

4. Stopped instead of further going on, after about an hr.

Things To Improve On:

1. Turn the damn Yahoo IM off so no one can contact me during trading hours. Sorry for the language. I've found when a certain person contacts me and starts in with his negative crap that is anti wall street, big business, capitalism, political sh**, it puts me in a super negative mood. I so far have not been able to master separating myself YET. His verbiage is just foul and taints my trading and every time he starts in, I always end up negative for the day.

All I needed was one more trade (the 4th trade) to make my goal and cover commissions. He interjected his poison and that cost me. As I attempted to recoup, I wiped out all my profits. Thinking I could do similar to yesterday, but only going to use 1 contract and keep my risks low, I did stick with that. Anyway, I kept getting more further negative than really making too much headway positively.

2. Could not get those damn words, "idiots on Wall Street" out of my head. Guess I traded like an idiot, doing things the opposite of the market, and not going with the flow. I allowed his very negative venomous vibes to poison my trading.

3. Have 5 costs in a row. Should've stopped after 2 in a row to analyze my trades.

4. Was distracted with a phone call.

5. Did not verbalize most of my trades.

6. Need to stop trading when I can't get negative messages out of my head and do something to clear my head.

7. FOCUS!!!! FOCUS!!! FOCUS!!!
1 Response
  1. Nancy Says:

    This post was super instructive for me. I have been sabotaged before by negativity, mostly by people who dislike trading in the first place. They see me "playing a sucker's game." Thank you for the encouraging words.

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