2010-05-17

A very bad day. Nothing worked. Staying with the trade didn't pay off. It was scalping environment. By the time I realized I was down a bug bunch. Most picks went in my way before turning around and pooing.

Day Result

Big Negative -121 (-111 before commissions).

STATS

- --------------------------------------------------------------------- Win $: 16 Win Shares: 200 Win Ratio: 80.00 Loss $: -127 Loss Shares: 1400 Loss Ratio: -90.43 --------------------------------------------------------------------- Max Win $: 16 Avg Win $: 16 WRatio/LRatio: 0.88 Max Loss $: -28 Avg Loss $: -18 Win$/Loss$: 0.13 --------------------------------------------------------------------- Long P&L: -40 Long Shares: 1000 Long Ratio: -39.60 Short P&L: -71 Short Shares: 600 Short Ratio: -118.33 --------------------------------------------------------------------- Comments: Just a bad day. Looks like not all days are going to be positive. I have live with this reality and make sure negative days are less negative. This will have statistics in my favor. I cannot be hero everyday is what I learned today.

Mood	Great at the beginning. Bad at the end.	Perhaps losses turned my mood down.
Stress level	No stress. Screen time: 60 mis.	Tried 60 mins of screen time. Was little stressed at the end. (perhaps because of losses)
The Good	No setup worked today.	Goal: Keep working on this strategy until May 30.
The Bad	I got chopped around like crazy on all picks. I still have confidence in the setup. It was just not my day.	Goal: Identify candle patterns at the end of 5 min bar to decide whether to stay or leave trade. Work on exits now.
The Ugly	Staying with winners didn't work well. Most position turned against me after seeing some green territory. I don't know how to handle chop days.	Goal: Lean to identify chop days and stay away or have a strategy to deal with them. I'll have to write a separate setup for that.
Psychology	Hard thoughts are not working. Markets are fluid, one day trending other days chopping. If I keep saying to myself that I need to stay in a position longer on chop days, I'll get killed like today.	No hurray, no sorrows is the goal. I have to think more about chop scenario and avoid such big losses.