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Yes, journal is a great idea. My take on it is as follows: Forget about the $500 goal for now. Let's assume you will trade 1 contract per 5k equity in your acct to play it safe. 5k is not too high an amount to blow if things don't work out but at the same time it's more than enough to give...

Stopped on remainder slightly below b/e at 71.97. Even though the trade didn't pan out I still booked some profit.

Welcome to the thread Simple! My advice... Try trading live with 1 contract. If your heart rate increases after you enter the position then you're not ready for prime yet. How did you arrive at the $500 profit objective? That's 2 pts avg per day... rather ambitious goal for an aspiring...

Excellent opportunities this morning... Booked solid gain on 13 trades. Still holding 1/2 position SPXL swingtrade from Friday. Hopefully we'll see 1945 this week.

-2 ticks.

Long 33.50 stop 4 ticks.

Exit 1/2 at 73.76.

Out 35.50 +6 ticks.

Short 37 stop 4 ticks.

Trailing stop hit +4 ticks.

Target 26.50

Long 22.25 stop 4 ticks.

-2 ticks.

Short 23 stop 4 ticks.

+4 ticks.

Long 18.50 S/T 4 ticks.

-4 ticks.

Long 24 stop 4 ticks. Target 28.

Then again, most of my entries are at very specific algo areas so very rarely there is a need for more than a 4 tick stop. While 4 ticks may not seem like much to you, it is a big deal to me :).

One of my rules based on analysis my past transactions... When a position goes immediately against me and almost hits my stop and then reverses, I get out as close to b/e or +1 tick no questions asked. Statistically, the best trades are the ones that go my way right out of the gate.