Thursday Log – Better Read

I had a better read today and “felt” the market better than the past three days. Played the gap / CO combo play at the open although my conviction at the open waned which cost me a few extra points. I saw 928 as a support area and initially had targets of 31.25 and 29.25. Target one was hit but failed to give target two the chance to work. A stop of BE would have kept the trade and target two would have been hit. This continues to be another opportunity for improvement as I leave money on the table. The need to win is outing weighing the smart way to trade. I’ll continue to work on it this issue to improve results. Result: +4.25

Saw the first hour as the best opportunity to trade. I had stepped away for the 1100-1400 period just to take a break from the previous days chop during that period. While gone I missed 1 TC set-up which in hind sight was one of the best of the day.

I scored 3-4 MO’s during the trading day and a couple trades I entered were scratches. Not quick enough to make a quick scalp or two. I’m still trying to hit more than a single on many trades and continue to be a downfall. When adding up the singles, a minimum of 4-6 points were left on the table. Must improve this part of my game!

The final hour of the day was a lot of chop. The overnight high held as support and the intraday HH made around 1345 contained the range for the final 2 hours. Tried a quick fade from near the HH but again did not have a bracket trade in place thus realized only a half point. Take those singles that the market “gives” you. I think this issue will be solved once I am secure with trading more than the 2-4 contracts currently traded. Targets of 1-2 points on first half of position needs to be the rule and I’ll will work on this part of my strategy tomorrow and in the days to come with a more concerted effort to hit the singles.

Trade Well !