Thursday, October 12, 2006

10-12-06 wrap up

Today's trade stats:
-2.32R return
Win rate = 40%
Win/loss = 2/6
Expectancy = -0.46

Not a good trade day for me. I'm most disapointed with my breaking of 2 of my system rules:

1) 3 losing trades and I'm done for the day - I went for one more trade after losing 3 over the course of the day.
2) Never trade off of one time frame only - I make my best trades when I'm taking a set up from one time frame and finding an entry signal on a smaller time frame (for example, see a set up on a 30 minute chart and find the entry on the 15 minute chart).

Thursday is living up to it's reputation of the last 3 weeks for me as being a difficult day to trade. I hope tomorrow doesn't keep the trend up as being the worst trade day of the week for me.


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