Thursday, May 24, 2007
Followed by the accumulated Rs curve sofar this year:
The trading performance for trades nbr. 26 to nbr. 50 has not been as good as the first 25 trades of the year. I achieved a grade of 1,04 which is o,11 below my trading objective of 1,15. Remember that this mark takes into account the key statistics of a trading system (% Wins, Average Win/Average Loss, Maximum Win/Maximum Loss and 3 Biggest Wins/3 Biggest Losses).
My hit rate decreased to 52% during this period and the average win/loss was as well worse at 1/1,39, reducing the expectancy. Looking back in details I find an overall difficult trading environment for my style during this period and some sub-par position management as the main suspects. I forced some trades and was too quick to take profits in some good trades.
On a positive note I stayed calm and focused after taking 5 losses in a row and knew to make them back and then some fairly quickly without doing any "revenge trading" which is a sign of trading maturity. Another positive point is that I improved my trailing stop methodology and this should allow me to stay into fast moving markets longer....
Monday, May 21, 2007
Long: 66,11 -- Initial Stop: 65,71 -- Sold: 66,99 -- Result: 2,20R
Bullish in Screen I - At value in Screen II - Entry Set-up 2 in Screen III - Sold after the previous candle printed a threatening tail and the market reached its objective at the enveloppe in Screen II.
Comments: Good trade...... Exit was good.
Friday, May 18, 2007
Trade Nbr. 47
Long June 07 Crude Oil: Entered on May 17th- Closed on May 17th. Long: 63,06 -- Initial Stop: 62,68 -- Sold: 63,35 -- Result: 0,76R
Bullish in Screen I - Pullback to value in Screen II - Entry Set-up 1 in Screen III - Sold after the previous candle printed a threatening tail ...
Comments: Very frustrating trade...... Exit was not very sharp this time !! I was afraid of the price action at this stage in the day, but my trailing stop methodology was not indicating a reversal yet .... I closed the position beacause I was afraid to give back my profit and not because my methodology was indicating to do so..... As a professional trader, we live from few good trades and I cannot screw up opportunities like the one that occured yesterday in crude oil !!!
Trade Nbr. 48 - 2007
Long: 376,25 -- Initial Stop: 373,75 -- Sold: 374,25 -- Result: -0,80R
Bullish in Screen I - (Uncompleted) Pullback to value in Screen II - (uncompleted) Entry Set-up 1 in Screen III - Sold during the same candle as the market was reversing hard.
Comments: Bad trade. Went long as my entry set-up was not fully completed, kind of a wishful thinking...... Happened shortly after closing too early the Crude Oil trade, was annoyed and wanted to fight back which is not the way to make money in the markets !!!
Trade Nbr. 49
Long June 07 E-Mini S&P: Entered on May 17th- Closed on May 17th.
Bullish in Screen I - Pullback to value in Screen II - (Late) Entry Set-up 1 in Screen III - Sold after the previous candle printed a VERY threatening tail AND my trailing stop got hit ...
Comments: Unimpressive trade...... Exit was good and according to my trailing methodology BUT entry was too late, I left 1R on the table due to the smaller position implied by the wider stop than usual......
Thursday, May 17, 2007
Short: 1883,00 -- Initial Stop: 1887,75 -- Covered: 1885,00 -- Result: -0,42R
Bearish in Screen I - At value in Screen II - Entry Set-up 1 in Screen III - Covered as the candle was reversing and breaking the entry candle's high...
Comments : Good exit but should have paid more attention to the Stochs that are ticking up in Screen II..
Tuesday, May 15, 2007
Short: 1504,75 -- Initial Stop: 1506,75 -- Covered: 1503,75 -- Result: 0,50R
Bearish in Screen I - Pullback to value in Screen II - Entry Set-up 1 in Screen III - Covered as the candle was forming another tail and because the CPI numbers were expected 1 hour later...
Comments : Good execution. My rule of not having any open position into important numbers proved to be the right decision....
Monday, May 14, 2007
Long: 62,76 -- Initial Stop: 62,56 -- Sold: 62,86 -- Result: 0,50R
Bullish in Screen I - Pullback to value in Screen II - Entry Set-up 2 in Screen III - Sold after the previous candle printed a VERY threatening tail ...
Comments: Good trade...... Exit was sharp !!
Tuesday, May 8, 2007
Short: 61,40 -- Initial Stop: 61,58 -- Covered: 61,26 -- Result: 0,77 R
Bearish in Screen I - Attractive value in Screen II - Entry Set-up in Screen III - Covered around the support of the trading range, as the market was choppy since the entry....
Comments : Good execution. Screen I is indicating a serious loss of momentum which was indicating that the odds were not very good to get a continuation of the trend.... Good exit !!