February 27th, I changed my mind...chart

Well I changed my mind about posting the chart for yesterday's rule breaking day.

As much as I did lose money I had fun making the trades. If I am to take this seriously I have to stop having quite so much fun until a later time when I ride some profits and use smaller positions to test other strategies...rule breaking is necessary but I should not be doing that right now.

So, here is the chart for yesterday with the trades that would have occurred Had I been diligent and followed my rules. I went back tot he trading platform and used the same charts that I use during the day and just made mechanical buy/sell decisions based strictly upon rules and the indicators that I use.

There were couple of trades that I may have let run longer as they passed the first targets so I will use those shorter runs for my calculations and add my normal fudge factors, I used middle entries if I thought that might have gotten in soon in the minute, I used worst case if the spread was not huge and I applied a 30% deduction to lower the net return number.

Stats:

18 trades
$393 net profits after fudges.

Some of the newish rules I used included paying attention to the sma squeezes as the price approached a pivot point and the sma was near and acting as a boundary...I noted these with the purple dashed lines. I would not place a long trade if the price was bounded closely above the PP BUT would use the conjunction of the sma and PP as a launching for a short trade. The 1030h trades did not pan out so well using this but I only had a small loser. The 1445h was a perfect such setup and worked well. That was one that I did take for real, although I got in a little later.

Otherwise the 50 cent entry, momentum entries, some of these I did take for some decent profits but I was just not patient or paying as close attention as I should be. Like any other plan I pretty much need to take every setup during a continuous timeframe or I risk choosing the sucker trades buy chance.

I may only trade Tuesday Wednesday and Thursday next week due to schedule constraints, and perhaps to let me be more focused while trading.

Jeff.