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This is my first losing day on Crude (CL) and unfortunately it was a big one. I will post my trade report later. I made it tougher on myself to qualify NOT impossible but more difficult. Here is a picture of what happened this afternoon:
Early on I ended up way down from two trades that were good setups. Each moved in the anticipated direction, reversed, stopped me out and then proceeded to move back in the trade direction to reach my target. I believe I am to concerned with trying to qualify as a live trader and the result has been to make me overly cautious and fearful. I passed on many good setups today and then proceeded to micro scalp my way out of a deep hole. I did eventually end up positive. However, I definitely over traded and my commissions were huge. Another result of micro scalping was I lost sight of the big picture which really hurt, especially on a day like today where you can just let 1 contract run forever. I wasn't thinking! No pics today as there were just way too many trades. I will post the Combine trade results later.
Seems like these are being posted later the last couple of days. It still wasn't up by the time I went to bed last night. Anyhow, two days left and I have to get the ES back in compliance with the rules or I will miss qualifying for a funded account even if I do make the financial goal of plus $6,000. No matter what I have determined I won't be trading the ES in the funded account unless I spend a lot more hours in market replay trading it. At some point I also need to get back to trading Gold again. Here are my reports:
Decided to sit back and just watch the ES Market today. Paper traded not even simulation. The end result after spending the trading day and many hours after looking at the charts was a decision to slow down my tick charts. Now, I have a longer term chart directly above my trading chart so it is always in my sight and my trading chart has also been slowed down. However, it is not so slow that I have to increase my stop size which is good.
I still have the two trading days left in the Combine to try and meet all the objectives. My plan is to try and trade my setups without thinking about the Combine. My daily profit goal for the next two days will be $800. I intend to focus primarily on the ES on the first trading day (whether that occurs tomorrow or not) in an attempt to bring my trading average on that instrument to the positive. Once that goal is obtained then I will put my primary focus on the Crude market as that is the market where I perform best.
Waiting, Discipline and Patience Pays!
