Wednesday, January 4, 2012
Everything's green today. Patience was key.
On a net basis, I didn't lose on any of the financial instruments I traded today. Of course, I was down often and sometimes by a substantial amount but my patience was "perfect" (OK, almost) today. This doesn't happen to me often because patience has never been my forte if you see what I mean. When I say that my patience was almost perfect I refer particularly to a spread trade long gold/short euro that I made and that could have netted me 3 times what I gained had I been just a bit more patient. This is definitely a quality I have to work on as it would help me improve my results without a doubt. I envy those traders who are patient by nature. I am not sure what I could do to improve that really. Any suggestion is welcome. Overall a good day as everything is green in my report. Net result for today +$989 trading 2 contracts (commissions included). Details below.
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Patience has been key to my trading. Fortunately I learned patience in the Army, sitting on guard duty and conducting patrols for hours on end. I'd say practice by stand in line and any government building but that might just put you over the edge. Been enjoying your blog.
ReplyDeleteI still don't get how low your gains are from the CL with 2 contracts. You could chuck everything else you trade, exclusively trade the CL and outperform what you've shown to date. If you enhanced that by adding 1-2 several times during a 1-2 pt trend during peak trading hours, you'd be at the 4-5K per day level on a consistent basis...in less than 4 hours of trading.
ReplyDeleteBut, it's your life. I can only remind you that you can do far better than you're showing by focusing on the best contract...the CL.
SteveH