I can’t believe the month has ended already. It was a very busy month here learning more about futures and the E-mini S&P contracts as well as releasing new improvements to the Stock Trade Journal Software.
In any case, it was a profitable month. I almost exclusively traded the ES contract with the exception of one swing trade using the SDS (Ultra Short S&P) ETF. As you can see in the screen captures below, the majority of my trades were profitable. I am really day trading now as I don’t feel comfortable holding leveraged positions overnight. Remember that there is a 50:1 leverage in the ES E-mini contract.
On the psychological side, I am still afraid to pull the trigger because of the leverage. I have been journaling about it and writing detailed descriptions of what goes through my mind. I have also been doing some visualization exercises to overcome the fear.
Expectancy was positive for the month and the year. However, it is worrisome to have a low Winner / Loser ratio. I really like to see that number above 3, so I will continue to tweak the strategy with that specific goal in mind.
The strategy is very simple:
- Follow the major (medium term) trend.
- Enter trades only at price levels where there has been quick price reversal. (So I can have a clear stop loss.)
- Trail stops and let the market take me out after entry to try to capture as much of the move as possible.
There are some great additions to the website coming up next month that I feel will be very useful to traders. Keep an eye out.
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- Dec 2009 – October 2010 Performance
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- October 2010 Performance
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- September – October 2010 Performance
