I did make two trades yesterday a bit late in the day. One was a loser of 8 tics per contract, or $160 and the other got stopped out at a profit of 4 tics per contract for $80. End result was -$80. I would say I'm content with this because it could have been a lot worse. I could have continued to force things and turned the day into a disaster.
Today, 7/8 I traded CL and ES. I was able to capture $780 on a long with 3 contracts. Price moved quickly and turned out to be climactic. I tried a couple of more trades in CL, but I was forcing it a bit. Stopped with +$580 in CL. In the ES I shorted 3 contracts and made an error placing a stop, so ended up short 5. I'm using the T4 platform and I'm not a fan. I took a profit of one point for 3 contracts and move my stop up. Ended with +$212. Total for the day is +$784 before commissions. I think commissions are approx. $50.
I'm doing better at being patient, but not where I need to be. As long as I continue to improve I'm satisfied. I think doing well with managing the trades. With CL price can move very quickly, so I don't want to give back too much when it starts to retrace. The DTTM software seems to help me with waiting for opportunities, being on the correct side of the trade as well as trade management.
I have 4 days left on the 10 day combine. I think I am up $1800 on the account, so need an additional $1200 to achieve the profit objective. With 4 days left it is achievable, just need to be patient, disciplined and smart. I will find out exactly where I stand at the end of the day.
David
The following 4 users say Thank You to David_R for this post:
Yes, the loss limit is in our control, but I don't think it's something they let you modify, but I could be wrong. I don't really want to modify the loss limit since I think it's very reasonable.
I just made very poor decisions. I lose focus on what is taking place and have a loser then try to make it up right away and the emotions take over and it's down hill from there. I will try again at a later date.
David
The following user says Thank You to David_R for this post:
