Wednesday, March 18, 2009

A step backward

Ended up losing over $600 on 20 trades, about 10 trades too many. Also had some big stop losses like over $500 which is contrary to cutting losses quick strategy. I failed to realize the market was in uptrend mode and tried playing FAZ and SRS for reversals which is more difficult to accomplish than to trade with the trend via FAS. I did manage to nail FAS at the very end of the day for $584 but by then it was too little too late.

Back to the drawing board. Must cut losses quick and small. Trade with the trend. Don't over trade, wait for setups.

2 comments:

bluecollartrader said...

I've encountered the same problems. If you find the "holy grail," let me know!

slotmonkey said...

You are on my HG list. One component of the HG is consistency.