How I stopped making the same mistakes in 2010 and started to make more money

Day 18

Only one trade today, long ABK. I'm doing a lot of prep work to be able to trade bigger size and different setups, probably will be quiet trading week for me.


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Quote from thinkfirst:

Day 18

Only one trade today, long ABK. I'm doing a lot of prep work to be able to trade bigger size and different setups, probably will be quiet trading week for me.


+66
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Long ABK huh???

Where would you get a crazy idea like that ?? : o )
 
Quote from Robert Weinstein:

Long ABK huh???

Where would you get a crazy idea like that ?? : o )
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Lol Bob, I should of bought when I saw you going long on it, but that seemed to be really crazy at the time :)
 
Quote from LeeD:

why is moving stop to break-even a mistake?
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It's not a mistake if its part of your trading plan. I used to move stop b/e because I was afraid my trade would not work vs. letting it do it's thing and letting the probabilities work. This is why for me it was a mistake. I still move stop b/e at times but only based on my plan not my emotions.
 
Day 19

Was trading only ABK today. Went short early in the morning, but around $3.15 went flat near b/e. After new longs got trapped and news came out about company having no value I went short again and held right to my target. It wasn't my typical trade, but I had a plan before I entered the trade and I followed that plan, didn't let emotions to interfere with the execution. Very happy with the way I followed my plan.

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Day 21

Today was very interesting and unusual day for me. I combined everything I've learned about the markets and started scalping with very small size. I can honestly say that I enjoyed it. Over time it happened more often then not that I would be right about the move for next couple of minutes and then I would either get stopped out or had to wait for some time for target to be hit. Today I was using my experience to profit from that next small move. I need at least a week of this to see if I can add it as a valid strategy.

Also was looking at CL today, it's hard not to when NoDoji is printing money there :-) I can't see easy setup every day but every other day it's pretty obvious where I can enter and exit. I might be joining you there soon NoDoji. Now I am glad March was so slow it pushed me to so many different ideas. More I trade more basic it becomes, making a full circle. Can't wait for my p&l to catch up with my experience.

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