Mar 20 2008
Ugh! An Awful Week
This has been a brutal week.
I have done 10 trades on the S&P to-date and only one of them made any money. I haven’t taken any big losses (only risking 4-6 points per trade), but it adds up quickly when you don’t mix in a few winners. It’s quite possible for me to turn a good profit even at 40% or fewer profitable trades because my winners average better than twice my losers, but 1 of 10 just ain’t going to cut it. I need to stop taking bad trades. I’m definitely pressing.
To make matters more frustrating, while my winner yesterday was a 4R+ gain, it could have been more like 7-8R.
I suppose I shouldn’t complain. This has been my first negative week of the year.
Here are some other posts which might interest you:
- One Trade Can Make a Difference
- Trying to Trade With Academics
- Trading in Your Timeframe
- Sometimes Even Good Trading Results Need to be Rethought
- Lehman bond auction highlights strong financials
John,
Nice site. I found you in twitter and remembered your face from some other sites I’ve seen (following you there).
Anyway, it’s nice to see someone writing (speaking) in terms of R-multiples for their trading record. Aside from Trader Mike, Trader Eyal, you, and me, who else is out here speaking that language that you know of?
I’ll be back. Good luck with the site.
Jack