Saturday, June 13, 2009

No Time For Bad Trades

It's apparent that my best days this week were those where I hadn't the time to sit in front of my screen (staring at my charts) for 12 - 16 hours a day.

When pressed for time, I trade the best setup coz I have no time to nurse bad trades. I take a look at my charts for a few minutes and if within that time I don't see my favorites, I simply walk away. It was "Carrie Week". My friend was my priority.

Actually, I was prepared to take a trading break for the week to spend time with Carrie. However, it turned out that I had a few hours to kill each day while Carrie went out to meet her other friends here. I had used those spare time to go over my charts, and if I didn't see anything I could trade, I simply get dressed earlier and played with Al (didn't want to get stuck in bad trades that I had to nurse - coudn't let my friend wait for me). We usually got home way after the US market had opened, and I would scan the ES 5 min for my favorite setups. I was able to quickly make out what the trend was and where it was likely going. My eyes and mind were simply way, way sharper after being away from the screen for the entire day.

A more detailed review of the week:

Monday - Carrie had arrived in the morning and we were out the whole day. When I sat down in front of my charts for the first time that day, it was slightly before US lunch session. I took 2 trades while Carrie was in the shower. Stopped out on both. After Carrie and D turned in - which was 2 hours later - I recouped all my losses. Breakeven day : + USD 25

Tuesday - Carrie was out in the afternoon, and I took a few 6E trades. Then in the evening, when she was having a chat with D, I took a quick ES trade. Good day. Best day. + USD 487

Wednesday - Carrie went to an island nearby with a friend. I took a few 6E trades, then spent a lot of time sleeping (and didn't feel guilty, coz, hey, I wasn't supposed to be trading anyway). Took just 1 ES trade in the evening coz I had to be up early the following morning. Good day (albeit filled with blunders) +USD 375

Thursday - Spent the whole day with Carrie and saw her off at the airport. Got home shortly before the US session started. D was having a headache and I didn't want to keep him up. So my plan was to go for just 1 good trade and then call it a day. I had to be selective about my only trade for the day. Great day. 1 trade + USD 300

Friday - The first day of the week that I had the ENTIRE DAY to trade. D-day: -USD 575

Nuff said.

Lord Tedders once told me that his best days were those where he spent only a couple of hours in front of his screen. I always remember what he said, but it hasn't stopped me from doing stupid things now and then.

Once in a while, I must sabotage myself.

Maybe I don't love me so much after all.

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