Monday Log - Sync It

After a long weekend away from the computer, email and trading related reading, I casually observed the market today without having my usual interaction with IM, posts or even business TV (usually I have Bloomberg on in the back ground). I needed to try and get back in sync with my priorities. EWS has been a God send for me as has my initial trading network I IM with during the trading day. Last week I found myself rambling way too much and not paying attention to what I need to do and that is learn the EWS and trade. For these reason I am reallocating my attention to learning first.

Today was irritating. I took two trades. First was on a TC CO set-up. Although it was at an upper edge, I went long @ 06.75 knowing that 1007.75 was the overnight high. I had a 1 point stop. The break out did not happen. I adjusted my opinion and went short from 05.75 with a 06.75 stop that in the end was too tight. Was stopped out to the tick before price headed to my 1st target of 1003.25. Very frustrating trade. Result: -4.0

I find myself getting stopped out too many times by the slightest of margins. My ideas are “good” but timing or placement of stops is out of sync. I’m working on a spreadsheet to help me track these issues, Lots to learn and more the reason to limit my outside “distractions” and get in sync with my mission to trade successfully.

My performance last week as a whole was not very good and not in keeping with what I am capable of. Learning a new system and effectively applying it takes time and concentration. My attention and awareness of clues that may offer some insights into probable price action need to be refocused. So time to find a better balance of contribution, sharing and interaction. Time to get back in sync before my performance continues to sink.

Trade Well !