Dummy day trading #11 15-August-2006:E-mini S&P:Long trade closed
August 15, 2006 – 9:59 pmFirst trade of the day was a loss, and I was a loser. However, I deserved the loss. It was the result of lack of discipline to follow my trading rules, that is never enter a trade during the first hour of stocks market opening. I was eager to enter Long trade of E-mini S&P given S&P futures/Dow/Nasdaq are having good gain after Core PPI number released.
One trade closed with 1-R loss. Though the R is very small for this trade, the result shows a serious discipline and trading mentality problem.
From the desk of Tradergav.com
[...] Few mistakes were made yesterday. E-mini S&P trade, I was merely impatient to jump into the trade. I had an unknown agenda to trade. [...]
[...] August 2006: Week 3 review By Gav It is time to review result of this week’s trading. It was indeed a bad week for me. Negative begining, facing discipline problem, missing trades and close a losing trade on options expiration day. However, I closed the week in black again [...]