Jan 15th Weekly Recap - $2,973 loss

Yeah this week was ugly no matter how I skin it.  Of course with a manageable loss on Tuesday I would've finished at worst flat on the week.

Traded 168 contracts this week for avg loss of $19 per contract.  47% winners.

This may sound simple, but one of the rules I'll be implementing going forward is a hard stop (that I can move no matter what!!) which limits my losses on those days that get out of hand.  Looking back at my trading records over the last 6 mos, I've had 2 days like Tuesday where I've had outsized losses.  On these days I need to cap my losses at an amount that's easily recoverable within say 2 days.  99.9% of the time these stops will never come close to being filled.  But on the other 0.1% of the time, they'll save my quite a bit of cash. 

A lot of trading is realizing how old school wisdom applies to your own trading.  You can read about these things all you want, but until one truly understands how they apply to their own trading, they're useless.