Have been taking old advice to heart all winter.  Or, I figured out which old advice to actually listen to.  I have heard opposite opinions.  I see how It is probably going to be foolish for me to expect over 50% of my trades to gain.  Its perfectly fine to LOSE MONEY ON MOST TRADES as long as you keep your losses small and leave the possibility for your gains to get very big.  Out of 20 trades, I am looking to  gain big on 3 or 4 of them, gain a little on 3 or 4 of them while the rest are small losses with maybe a few break even trades. 

I have been recording things at home off this blog.  I have made many trades in the past few months and my performance seems fine.  My performance is reflecting what good, realistic trading advice dictates.  I am entering at reversals on major high's and low's and exiting using trailing pivots, or a close past my entry bar as an initial stop.  I stopped trying to find the perfect set up that leads to great trades most of the time.  Now I just get in when it seems decent and I let the probability play out.  I used to worry about if each of my trades would turn into hug gainers but now I really don't care about any particular trade and I want to see how I do over certain time periods.  If I gain big on a trade now, I am not as excited as I used to be since I expect to only have a few big gainers and that is what I get.  No surprise.  I am content if the probability plays out over a certain period of time.

I have been trading in the mornings on the 5 min chart for nasdaq futures in real time.  i made several mistakes on the first few days and then i started to improve toward the end of the ten days.  I made mistakes cuz i was not used to trading with my new smart phone nor making morning day grades o  a 5 minute chart.  by improving, i mean taking a smaller loss or just finding the entry easier.

6/4/12    -10pts (about)
6/11/12    +4.25pts
6/12/12     -4.75pts
6/13/12       0 (break even)
6/14/12      -12pts
6/19/12       +12.25pts
6/20/12       -3.75pts
6/21/12       +1.75pts
6/22/12        -6.75pts
6/25/12        +12pts

Lets see what happens over the next ten trades...

Even though i was having trouble using my phone i was able to enter and exit a playmoney trade for nasdaq 100 emini futures which was a 4.25 point gain.  good gain even though it felt small compared to the overall volatility.  the trade lasted two hours.  i did a good job waiting for the breakout of the long falling channel.  at the open it looked like it was going to go up but soon it turned down.

Im about to finally start trading with real money again.  it will probably be on a 5 min  chart for nasdaq emini futures.  i think i can manage making day trades in the mornings.  everything should start rolling in a week.

Lately i have liked using channels instead of the ema's for finding an entry.  i figured that since i exit using price bars, it would probably be easier if i enter using price bars too.  for the past week or so i would have gained 5, 10 or 12 points every morning.  i have to get used to day trading because thats all i can afford right now anyways.

the current weekly SP500 futures trade that im in is not looking good.  It could stop me out for a loss after this week.  after checking the chart again i realized i missed a major resistance at 1440, which is way too close.  thats probably why it stalled at 1400.  I didn't see the resistance because i needed to go back one more year on the weekly chart.  simple elementary kind of mistake.  im glad i made that mistake because if a trade is to go bad, i want a good reason for it.  Especially a reason that is preventable.  Now if i can just pay more attention.....

Sugar #11 futures have carried out a good little short trade over the past couple of weeks.  I remember passing on this short cuz i thought the next major support was too close, but i probably should have made the trade.  The trade is not over yet but it would be at around $750 profit so far.  It is resting at the major support right now, confirming the support but even if it pulled up now it could easily stop out for a profit of $600 or so.  Maybe i wont be so strict on having the next major S/R really far away.

i love Gabita, thank you for helping me all the time!