- Did not protect sufficient profits. Must establish explicit rules for protecting profits.
- Did not protect sufficient profits. Must establish explicit rules for protecting profits.
Overview: Sell into strength. Must capture larger portion of move.
Trade 1 Mistakes: MUST Establish more explicit rules for protecting profits. Did better this time than last week traded, but still leaving a bit too much on the table. Need to consider level breaking as sign to potentially protect profits. This may become an easier issue to address once I begin trading with more contracts. I can take some off. Also, got fucked by slippage, but cant well be helped.
Trade 2 Mistakes: Did not protect sufficient profit. Doing better, but still need to improve. Missed just under 60% of potential profit from high point while in trade. Other than not protecting more profits, this was a solid trade. Must establish explicit rules for protecting profits, or else go into trades preparing to endure larger fluctuations. Had I endured a 20% draw down I would have had the opportunity to capitalize on an over 100% return. Hindsight is 20/20, but must refine method to capitalize more on good trades.