Thursday, April 18, 2013

Balance

All trades from last night worked out as planned. Market gapped up nicely overnight and I was able to upload the ES, NQ and 6B longs for a nice gain. Now, here's the tricky part. I am up nicely for the week and its only Thursday morning. I've more than doubled what I usually plan to make on a given week, so what should I do now? Be fearful? Play defense? I asked one of the guys I look upto for advice  - @debrink. His reply:

"Take all set ups. When has the prevent mode ever worked - in sport, or any other facet of live. You have to go with the game plan you have. Prevent defense - such a misnomer - it allows the other team to score more easily. Do what got you into the good situation - that is what works - no harm in protecting a profit with a stop - that is sound money management, but do not stop taking trades that appear in your setups."

So true. And thats what I'll continue to do. Stay calm, and if there are setups, I'll continue to take them. On another note, I skipped on taking the corn short at 643 and now its down 10 pts. Let that be a lesson.

No comments:

Post a Comment