Trades on ES for Fri, 16-Jan-2009

My goal is $1250 for the day. Today I grossed $637.50

Total Trades = 8 (some premarket, intermittently from 10:41 am to 1:12 pm EST)
Max Contracts Used at 1 Time = 4 ($500 margin/contract)
# Profitable Trades = 4 (50%)
# Costing Trades = 4 (50%)
Range of Profitable Trades = $100 to $512.50 (trading in 1 contract positions)
Range of Costing Trades = $50 to $275

Total Profits = $1237.50
Total Costs = $600.00
Commissions = $31.92
Net = $605.58 (30.3% ROI of capital used)

Things I Did Correctly:
1. Knew where I was, location, at least for the first 4 trades.

2. Set stops. Two of the profitable trades were limit profit stops and two were trailing stops. The cost stops were limit. Had stops set for the costing trades, too.

3. Set my trades, stops and walked away so I would not mismanage the trades.

4. Was clearminded, focused when I set the original 4 trades that were profitable.

5. Saw where my indicators were, in overbought.

6. Eventually stopped trading when I had given back almost half my profits.

Areas of Improvement:

1. Did not verbalize any of my trades.

2. Traded when I was very foggy, unclear minded. That was my last 4 trades which were costs. Gave back about half my profits.

3. Did not focus for the last 4 trades and when I have 2 costing trades in a row, there is a need to stop to see what I'm doing, but I kept trading.

4. Did not set a maximum cost that I was willing to accept.

5. Needed to just sit to focus for 5-10 min. before trading.

6. Didn't turn on my classical music to help settle my mind.

7. Did not wildly, excitedly, happily celebrate that I just about met my goal when I came back to the computer. All I needed to do was to cover the commissions.

8. Did not take profits sooner.

9. Lost track of where I was, which led to my costs.
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