Sunday, January 28, 2007

Daily Journal 1/26

Last Friday, I took 6 day trades, of which 5 are profitable and 1 was not.

*** update 1/29 8:50am***
Looking it my Friday's trade, it felt I forced some of the trades. It was a choppy day and I had to grind some of my profits with very few good setups to take.

Total Trades taken today:6(day trades)
Day trade Winners :5
Day trade Losers :1
R Total: +7.4
Total daytrade P/L for today: $3675


Anonymous said...

You are very good at trading. Can you shed some light on how/when you take profits. I have a tendency to cut profits way too early and would appreciate any advise in this area. Thanks.

mc said...

Let the trend take care of taking you out. You just need to trail your trades a not anticipate tops or bottoms. For breakout, you might want to take out your profit on the first sign of pullback.

Anonymous said...

Thanks a lot. Much appreciated.