[swansjr]

Day 30
June 26, 2009

No trades today as most of my morning was busy with other obligations. The little time in front of the screen I did have resulted in nothing catching my eye. Hope to post a review this weekend.

[swansjr]

Day 31
June 29, 2009

One trade. One Winner.

Not much action in EC this morning but I did manage to get one scalp trade in. it did not take much heat but it sure advanced slowly. It was a long 8 ticks. Anyway, I really hope to review my lousy performance soon. Looking forward to the review so I can improve!

P&L: $100

[swansjr]

Day 32
June 30, 2009

One trade. One Winner.

Again, not much action in EC this morning but I did manage to get one scalp trade in.

P&L: $100

[swansjr]

Day 33
July 1, 2009

No trades today.

While I did not trade the Watts System today, I have an automated system that took a nice profit in YM as it anticipated a up move in the overnight session. I was pleased with that. Furthermore, there was a lot of stuff that I needed to get done around the home office. So I spent my morning taking care of non-trading obligations. I'm also debating about trading tomorrow morning since it's just before the long holiday weekend. I guess I'll know if i should be trading or not when I see the price action in the morning.

Looking forward to reviewing my first full month of trading the Watts System.

[swansjr]

Day 34
July 2, 2009

No trades today. Just before the Holiday and I've got other stuff to do.

[swansjr]

Day 35
July 6, 2009

No trades today. I find myself distracted with other non-trading obligations and the price was not grabbing me.

[swansjr]

Attached are my statistics for trading the EC from May 27, 2009 to June 29, 2009. In short, I managed to keep my head above water. However, my performance has been horrible. Most notably, 1) not taking signals 2) and in a more general sense, not following my plan. While I think I'm narrowing down "when" or "when not" to trade I still often hesitate to act. Furthermore, I need to only take signals that I'm trained to take which at this time are trend continuation patterns. I have yet to practice or fully define the entry and execution of trend reversals patters. Thus, I should not attempt those, yet.

Here come the gory details...





So, sticking to my plan and execution without hesitation appear to be my biggest flaws. My risk management seems to prevent me from pole-axing my account into oblivion. In fact, I'm making money. Just imagine if I could trade well! The money will just pour into my account. heheh,

To fix my deficiencies I will start to record each trade via screen capture software. I actually think recording my trading process while talking out loud about my setups and what I'm observing with the price action will help in my performance. I will need to add this to my trading plan. These videos will also provide a great library of failed and well executed trades.

Onward I march.

[swansjr]

Day 36
July 7, 2009

Two Trades. Two Losers.

Today I traded like a complete fool. I watched an entire uptrend and did not take any signals until the very end and was stopped out - twice! Granted I was distracted with other non-trading obligations I know better. This is exactly what I'm talking about in my review from yesterday. You may be asking why I did not video record my trade. Well, yesterdays post about my review occurred after today's stupid trades. I've been slow at getting these updates out. Wednesday will be the day I start recording what I do.

Today typified all that is wrong. The market was throwing money my direction, but I was to frightened to grab it. When I did grab it, my hand was bitten.

P&L: ($150)