Swing Trades
Today I framed thirteen symbols for possible trade entries. Eight were filled and currently show +.47R for the day. The only one showing a loss for the day was the “2nd position” I added to PYPL. No trades were closed today. This brings me to 24 open positions showing +14.46R.
Long: AEM, CAT, CBOE, DIS, GILD, GLD, HD, INTC, IR, KR, MSFT, OXY, PFE, PYPL(3), RIO, SLB, STZ, TPR(2), TWTR, UNH.
Short: none.
Day Trades
I had just over an hour to make day trades this morning when the market opened. After three trades, I was up +.73R. I considered walking away, but committed to trading until my time was up, I had four losses, or I made it to +1R. I ended up creating two more losses when I reversed my position on the next set of trades and reduces my return for the day down to +.45R before my time was up.
Finally, I will post a chart of my day trades. They are not stellar results, and I could have done better with the window of opportunity I had today, but I want to start holding myself to the same level of accountability with the day trades that I do for the swing trades which means posting them here when they are closed.
Reflections
I will have more reflections on trading with a target of +1R/day as well as the time crunch of possibly walking away before a trade closes sometime soon. Right now, I need to take care of myself by getting some sleep.