Friday, February 5, 2010

Thursday Wrapup (2/4) - $825 gain

Three days in a row!  Woo hoo!

Continuing to see the market well and today was my best day in a long time.  Took 9 trades total, 1 breakeven, 2 losers and 6 winners. 75% win rate. 

Only negative from today is a couple of missed trades where I tried to get too cute with my entry prices.  Missed at least 2 trades by 1 tick or so that would've added $400-500 to my daily gains.  Not sure what's worse entering a bad trade or not entering a decent setup at all.  Guess I'll take the latter.

Best decision of the day was not to fade the opening gap.  After yesterday's action printed a doji bar, I had the feeling we'd move lower and when we opened below yesterday's low I decided to stay away.  Had I entered the trade I would've been stopped out for a $500-600 loss.  Sometimes the best trade I guess is the one you don't take.  

Need to carry this momentum over to tomorrow and finish out the week on a strong note.

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