Thursday, January 16, 2014

ES 1/16/14 +6.50

After all this time, still struggling with my emotions. Decided to just jump in on the next available setup, after missing and skipping some good ones the entire day. Broke a bunch of rules in doing so. It was a stupid entry, based mainly on emotions, greed and hope. I would have been toast had this trade went against me. Had on 6 contracts (3Xs the normal size) for this trade. Granted, the entry reason(s) for the 2nd and 3rd sets were valid, but the initial entry was flawed. A better choice would've been to just sit tight and ended the day with no trades. Better safe than sorry.

Rules broken:
  • No real valid reason for entering
  • Added 2nd set of positions to existing set
  • Added 3rd set of positions to existing sets

E-mini S&P 500 Futures chart for Thursday 1/16/14
ES chart 1/16/14

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