Between having to go to the dentist Monday, internet issues Tuesday through Thursday, and today not getting the good setup except for a split second today, which i missed, i have to say that this week sucked in terms of being able to trade. Add to that my smokefest on Wednesday and you have a shitty week that will be great to recover from next week.
Speaking of next week. I am inclined to keep in last Friday's goal for this week of 3k shares on my setup. But i am also thinking that negative account aside I should be able to withstand the risk involved with my setup for 5k shares. Especially since it seems to work more often than it doesn't. So either I will do 3k, 5k or split the difference and do 4k. I have to decide that this weekend and have it down in the blog for accountability reasons before the market opens Monday.
More and more I am seeing that you can get your setups airtight but they are only as good as their execution. Reading trading from hell has confirmed that he is struggling with the same problem. When it comes to ostensibly smart traders that continue to underperform, i am starting to think that our main shortcoming is how we handle the task of trading than our analysis of the market. The best way i can think of to handle that is to make the trade as easy as possible, and then make following it the #1 priority (above the actual money made or lost. See my post here .) And to constantly try to push the amount of shares i can do that with over time.
reminder to self- this weekend try to come to terms with the best place to be setting my entry limits- at, further or closer to the MA- This is something i have never fully figured out. One thing that came up today is the fact that the latest candle's movement before it finishes (the 5 minutes are up in a 5 min chart) ends up moving where the line is.
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