1. My current stake is just under $10,000.
2. -4.50 points today. I keep a trading journal which I track every single one of my trades and have found the reason for today's loss was:
a. I had 7 trades. All of which were losers, primarily because I was utilizing a strategy that is not part of my trading plan. I generally do not speculate on breakouts or buy/sell within 1-point of the highs/lows. Today I was really expecting the high of 1012.25 to be touched and breached. This obviously did not occur and I got really jammed on these trades.
b. Discipline. I have a written trading plan and it is one that I follow. I deviated today and really paid the price.
c. Patience. Almost every single successful trader that I have ever met and spent time with have all suggested patience as part of their success. Generally, I am a very patient trader, but something with definitely off today. I felt in the morning when I woke up to prepare.
d. Sleep. I couldn't sleep last night and had only rested for about 2 hours before starting my day. This is not a good way to go. Ever have one of those trading days which you say to yourself, "Damn, I should have just stayed in bed." Well, today was one of them for me.
Recognizing that trading has its distribution of gains and losses is key. Today's loss was not necessary but it certainly serves as a reminder to always trade with the plan and to maintain course.
EliteTrader, I would love to respond to the many encouragement, questions, and criticisms that you all have but simply do not have the energy today. I'm going to refresh, rest, and be relaxed for tomorrow's trade.
Sell 'em high, buy 'em low, take their money, bash their nose.
Best,
DayStructure
-3.25/+40.00
PS: Commissions... man, commissions really do suck.
