Saturday, September 11, 2010

SI, GC, NG and CL Trades 9/10 - Mess

SI, GC, NG and CL 5min
The day turned out to be quite a mess, and this time, it's all my fault. 

First, I traded setups that I was not familiar with. Then I decided to use the chart trader instead of IB's price ladder to execute my trades, and totally lost my edge - I got in and got out at all the wrong places, couldn't figure out the absolute dollar amount of my stops, couldn't focus on my charts (what an irony, given that I was trading off them) and was totally out of sync with the market.

I have to say, this feels like the worst trading day ever.

I'm just glad that this is the last day of this week.


Lord Tedders said...

If this is your worst trading day ever you are one heck of an amazing trader.

Your mental space is every bit as important as what is on the charts. This is a concept I am still trying to accept. I stayed out yesterday and today though because I was sick.

Jules said...

LT :-)

Agreed that the mental aspect is equally, if not more, important than what is on the charts. What happened yesterday was that at no point in the entire session did I feel that I was in control of my emotion and state of mind.