E-mini trading August 6, 2009
Today technically was a good day. Why do I say technically? Because the emini system worked fine today – the first valid NSE was a winner, the first valid EET was a winner – in fact the first 2 EET’s and NSE’s were all winners!
I had a pullback trade that I should have cancelled (based on my rules) – and taken the NSE instead. Basically by taking the P/back trade – I was unable to take the valid NSE and caused myself a series of losing trades! I had an intraday drawdown of 6 points.
Fortunately, one of the biggest parts of my day trading course is learning how to recover! I recovered later in the afternoon as I typically do not trade the lunch hour. About 1:30 – 2:30 – I recovered all my losses and made over 1 point after commissions.
So it was a long day – but it was a good day! Had I not made the mistake I made – it was an easy one and done day – in fact, most of my students did just that!
Day Trading is truly all about discipline! Without it – one simply cannot make it as a trader. We realize that mistakes happen – we’re only human! However having the discipline to recover and the confidence in yourself to do it – makes all the difference in the world!
We do have some new videos. If anyone is interested- please get in touch!
Good Trading
ETS
