Thursday, October 23, 2008

Thursday PM Notes - Eye of The Tiger

4:00pm Better. Strong and sustained focus (despite a restless night for obvious reasons), recognized and successfully navigated the early 15-minute oscillating diamond pattern (late yesterday overlapping with early today) within the context of the continued 60-min downtrend, nailed the post 2pm barf (both long and short), took high-probabililty entries & exits, "trail-stopped" my earnings all day, and most importantly -- stopped trading at 3:15pm aside from a too-good-to-be-true short on the late day spike for small size.

Result: Solid $45K net chip gain on 1,565 x 2 trading -- including $9K on the DAX on a very solid performance in the early session and $38K on ES before commissions -- and no errors that I can recall, aside from leaving some profits on the table and passing on a few decent entries -- which I can more than live with today.

I've preached for years that trading is a sport ... and the last two days provides yet more evidence for those who think trading is just about chart patterns and analytics. It may not be a physical sport, but the required mental element is no different ... not to mention we make and absorb punches every hour of every day.

Today again also proves that I trade better and in a more focused state when angry. I guess that's how it will always be.

The only thing I can't figure out is why my hands smell like raw meat.


Anonymous said...




JP said...

Could you explain the (1,565 x 2 trading) reference I'm sure it is obvious, unfortunately not to me.

Don Miller said...

Hi JP -

It refers to the volume of contracts I traded: 1,565 contracts being traded (single turn) or times 2 for the round trip.


Anonymous said...

Don - I suspect you already know this, but the ES, NQ & YM are limit down....

Should be an interesting day once things open up.

It seems like a trial by fire week to come back from vacation for me :)