Dec 11th Weekly Recap - $2187 gain

Overall a solid week with me finishing up roughly $2200.  Thankfully no major boo boos this week, though I was far from perfect.

With the market being up the last two days, it's interesting to note that I didn't place 1 long trade on either day, but still made almost $1500.  That's hard to believe.

Also, since the first horrid week when I started the blog, I've now been profitable 14 out of the last 17 trading days.  What I've done in the past though is irrelevant to the future, and I know I'm always only one bad trade away.

What I need to focus on next week:

1. Position sizing - If I'm trading off a longer term chart or with a chart where the nearest support/resistance areas are further away than 2 pts or so, I need to consider smaller size. Several times this week I put on trades where I suffered a drawdown that I didn't feel comfortable with even though the trade was still valid.
2. Risk management - Quit screwing with stops!  And when a trade has traveled too far away from entry, get the hell out on the next pullback opp.  In other words don't puke when everyone is buying/selling against my position, but stay patient and get out at the next opp.  Assuming my stop hasn't already been hit.
3. Profit taking - This is a tough one.  I don't want to cut my profits short.  But the market of late hasn't followed thru much at all.  I need to be more cognizant of the market's waves, i.e. if we're in the 3rd leg of a downtrend consider getting conservative with my exits.  Else give the trade room to run.

Looking forward to next week in what should hopefully be some better ranges.