Trades on ES for Tues, 2-Dec-2008

Notes: Today I did not trade with real money as I was very angry, but even when I practice, one needs to trade as if it were in real life. I made major faux paus today of the grandest scale. Not good.

My goal is $300 for the day. Today I grossed $48,200.

Total Trades = 112 (2 hr, 41 min. from 9:40 am to 9:58 am EST, 10:22 am to 12:45 pm EST)
Contracts Used at 1 Time = 160 ($500 margin/contract)
# Profitable Trades = 61 (54%)
# Costing Trades = 51 (46%)
Range of Profitable Trades = $50 to $2500
Range of Costing Trades = $0 to $2750

Total Profits = $48,200
Total Costs = $39,525 (82% of profits)
Commissions = $7644.84 (16% of profits)
Net = $1030.16 (1.3% ROI of capital used, only kept 2% of profits)

Things I Did Well for Today:
1. Verbalized some of my trades.

2. Eventually stopped trading.

3. Did my devotionals.

4. Got enough sleep.

5. Ate breakfast.

6. Got out of trades that went against me fairly quickly.

Areas of Improvement Needed:

1. Traded in the middle of a chaotic environment.

2. Traded when I was very angry at several things, more in rage.

3. Did not trade my plan.

4. Took too large of positions.

5. Did not verbalize most of my trades.

6. Grasping at straws.

7. Greatly increased my risk exponentially.

8. Too many trades

9. Kept trading in a fury, even when things were very against me.

10. Failed to look at bigger timeframe often enough. I traded mainly on the 1 min. timeframe since I was very high strungly angry.

11. Issues need to be resolved when coming to trading. The money I need to generate can be made fairly quickly, but because I was down so much, I had to make up for it and kept trading.
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