Friday, June 19, 2009

Real Bad Day

I had a very bad day today. 1 winner and 10 losers.


I tried staying patient this morning. I was waiting for any sort of setup. I then saw the SP drift lower after the open and I thought oil would follow. I sold it and lost.


SP then moved higher, and I thought I saw a triple top, so I bought a high in oil and took a quick loser. I tried it 3 x, took losers on all of them. And I also tried selling a low when it did not work buying it. Ugh


Finally, I caught a winner in the euro, while I watched oil rip higher. Oil then sold off, what appeared to me as very aggressively, so I sold a low. It went about 7 ticks my way and then ripped to a new high, so I got out, reversed and watched it move right back to where I sold it. I lost so much in about 30 seconds.


Today was just terrible for me. Maybe because it was quadruple witching in the SP, and maybe because oil rolled while HO and RB did not. I do not know.


What I do know is I lacked a lot of patience and I had no real set ups. I need to be able to sit here and do nothing.


I bought hi's and sold lows. I reversed and took 3 losers that were way too big. It was obvious what I was doing wrong, especially on a terrible day like today.


I need to review this weekend and see what I have been doing well, and focus on that. Its a frustrating way to end the week, but life goes on.


Thursday, June 18, 2009

Doing well, but need to clean it up

I had a decent start to the morning. I bought ES and Eurostoxx on the Continuing Claims data, but put on too much size and scratched it very quickly. I had very little to show for it, even though I think I saw a great opportunity.

I was patiently waiting for places to sell oil after the oil market sold off after the the open. I actually chose decent spots and took my relatively small losers. I then got the feeling someone had the 9am Phili Fed release early, and I was correct in my assumption. Bloomberg released it early and thankfully I was able to buy a little oil on the early release. However, it was very small and did not get back my losses from selling it.

I remained very patient and waited for my spots with multiple reasons. I was able to make a pretty good day of it, but then got a little sloppy and sold a low and bought a hi for no reason, and took my 10 tick losers. It was frustrating to say the least, but I buckled down again and got back to my highs around 10:30. I have found that from 10:30 ish to 12 or so I get very beat up and have a hard time seeing the market. I took a break for about 2 hours and just decided to sit and wait.

Sure enough the US fixed income market had tanked and I saw a great opportunity to buy. I traded Eurodollar for the first time in about 7 months. I made some decent trades, ones that would have been huge winners on small size, but I just wanted to make quick stabs and take quick profit because it has been so long since I traded it. Oil went a little crazy and I took some losses that forced me to cut my size. I was able to use that size to get back to new highs, and walk out of there at my high.

I noticed today that I started to feel a little sloppy with my trading. I feel like had I prepared a little more and set up some trading tools, that I would have had a better chance to capitalize on some great opportunities. Also, I lacked focus in my own trading. I did not trade with that killer urgency. I am not sure what to make of today. It feels great to walk out up more than I have in the past, but I feel like I squandered many opportunities today.

For tomorrow and the end of the week I plan on keeping it really tight. I would be thrilled to walk out up anything. I know it will be a late night tonight, and its a summer Friday. I need to be extra cautious and patient. I need to set up everything and really bear down and stay disciplined. It is unacceptable to slack off because I am doing better, because that's what leads to my draw downs. I am trying to keep the same mentality no matter how I do.

Wednesday, June 17, 2009

More of the good, less of the bad

Today felt a lot better than the past few days. Granted, I started off the day up a little bit and then lost on some trades and found myself down more than I wanted to be. Obviously, no one likes to be down, but I have started off up at first and then down the last few days in a row. This is a little frustrating to say the least.

I managed to get a little back before DOE oil inventories. I actually sold it right near the top, but I was afraid of a big sweep out of nowhere, so I took my profits and watched the market tank. Maybe going forward if I have a little more confidence in my trading, that is a trade I can hold part of longer . . . just a thought.

Anyways, what really made today a success and feel good was that I was very patient and I waited for my setups. I stayed out of the choppy messes and took my quick profits. I am trying to to risk 1 unit and make about 3 units. Right now that is my simple strategy, and its working. I know I am not taking out the whole move or riding or holding trades, but I dont think it matters right now. What matters for me is that I need to take my profits and just hit singles. I think that in time it might change, but for now I must learn to crawl before I can walk or run.

It is really amazing that after 5 years of trading I am back to the very basics. I need to continue to stay patient and wait for my spots. There are many opportunities in there, and staying calm and patient are some of the keys to my success.

Also, doing my work in the morning is paying off. Some of the levels I look at are helping find great trades in different markets.

I must also say that no move would really surprise me. I wouldn't be surprised if oil was up or down $2 tomorrow.

Tuesday, June 16, 2009

Reoccurring Theme

It seems as if there is something happening that I cannot identify in my trading. Today, I made a few quick small losing trades to start, but managed to make it all back with one decent winner. I then had one more winner and I was on my way to having a very small winning day. However, I lost and lost and lost and lost, and before long I was having a bad day. In fact, I was almost at my limit again for the day.

In regards to yesterday, I figured out what set me off on my downward spiral. I was having a good day when I clicked on a headline that I thought should have been a winner. However, I was putting too much emphasis on this one tiny headline and took a small loser. I then tried to chase that loss and made some very careless trades that were all losers.

Today, I didn't make a big mistake. I just wasn't seeing it all that well. Maybe I got a little fast, maybe I didnt take a break after 3 losers in a row, and maybe I made too many trades with no setups.

I do know I was early on one spot selling the euro. But that trade alerted me and I was able to wait a make a very good second trade.

In oil I started off buying it because heating oil and gasoline were so strong. However, I was losing every time I bought it. I started making money selling it and felt like we might trend down all day. My spots were pretty terrible today. I sold it numerous times and took many small losers. Maybe I am picking bad spots, and maybe I keeping too tight of stops. I dont know. It is something I need to think of an keep track of.

Bottom line, I managed to have an ok day, but not without some stumbling along the way.

Finally, I re-learned one lesson again that has cost me big time throughout my career. I listened to someone else's idea and just executed the trade based on what that person said. I didnt know where I was right or wrong, and I ended up taking the biggest loser of my day. In fact, I almost gave back half my day on it.

Still have a long way to go and lot more to work on.

Monday, June 15, 2009

Interesting Start to the Week

Well, I did not post on Friday, but to sum up, I ended up having an ok day by taking quick losers and waiting patiently. It felt nice to start the weekend on a decent note.

My goal this morning was to come in, stay patient, and try to put together some good trading scenarios. I followed my goal very well for the first part of the morning. I was patient, I took quick losers, and I was finding reasons for everything I did. I was fading oil most of the move down because there were very little retracements worth selling. I did not lose money, but I did not make any either. I made most of my money in the euro, so that was nice.

Something around 10:15 happened and I snapped. I don't know what it was, and I need to figure it out. I was having a decent day, up more than most of my down days, and I made some trade, or some poor decision that led to a losing trade. From that losing trade, I lost everything I made and continued to lose. Not only that, but when I got to zero on the day, I put on a euro trade that was initially positive, but then went wildly against me, and I froze. I puked it right when I was $0.50 away from limit. That is the closest I could possibly get. I was livid. I knew I shouldn't be doing what I was. Ugh.

However, things turned much brighter after that. One of my fades in oil worked out nicely, and I was able to get back to even on the day. I took a break, cleared my head, and was very thankful that I wasn't down any money.

When I came back from lunch I was very careful with my trades, I took my profits quickly and waited for my setups. Before I knew it I was making new highs, and I walked out right when oil closed.

I am not pleased with today's performance. I made a few classic mistakes and I need to figure them out. Clearly, I cannot take big losers, and I took one big one that almost put me out for the day. But what was really bad was when I went from having a decent day to losing. I need to go back and review what it was. I think there is something that sets me off, and I have a few thoughts.

First, when I am up money I take a quick small loser on small size on something stupid. Today, I think it was when I heard a marginal headline, I clicked with small size, and lost. When I got out, it went the way I thought. I am very confident this was and is something that sets me off.

Second, when I do take a small loser, I am looking to make back what I lost. I think sometimes I lose small, make a quick trade to scalp back the money I lost. This is not part of my strategy. When I do this I don't trade for reasons, I trade for money. This is very bad because then it is snowball effect. I make it back a few times, and that gives me false confidence. I then do it one last time, and lose, and chase that loss, and lose, and chase that loss, and lose, and I force everything when there is no opportunity.

Finally, I think I make a few ok trades and get over confident and my rules disappear. I don't trade for reasons and I start buying highs and selling lows. I just start clicking and make a ton of trades. Most of the time they are bad trades.

I need to stop these three things. I need to stop them immediately. I will stop them. Tomorrow will be a better day and I will figure out what leads me to make these mistakes. I am starting to find the path in the dense forest. I can see the path, very faintly, but I think its there. Hopefully I will get on that path and it will lead to a more clear defined path that gets me back on track.

Thursday, June 11, 2009

Birthday Troubles

Another limit down day - brings the total to three in a row.

After reviewing my trades for the day, I made the corrections I wanted. I did not sell lows or buy highs, and I did not take big losers. So where was the problem?

Maybe it was my impatience? Did I over trade? I dont think so. I did my prep work, I had reasons, and my ancillary markets informed me that I was correct in my ideas.

I had a few trades where I had 20-25 tick profit into them without peeling out of any, but I felt there was a lot more to the move. Maybe I need to book profit. Its hard though, because I book profit and I feel I shouldnt, but I do it anyway. Then I watch the market keep going and going and going the way I thought it would. However, when I dont book profit, I scratch or lose, never never never does it continue to go my way.

I looked at the past few days and the line between having great days and ending up limit down is very fine. Its almost scary how close I am to figuring it out. The pronblem is, I am not figuring it out and I am losing every day.

This has gone on for about a year now. I am at a new mental low, and I dont know how much moreI can take of this. This slow bleed out, coming in a lot of the days and losing small, but losing often is really getting to me. I am trying to stay positive, it just gets harder and harder to do so with every losing week and month.

I am trying to keep positive. I am trying to concentrate on the fact that I can find winning trades. I dont know what needs to change, but something needs to. I need to find something good to keep hold of and not let that go.

Wednesday, June 10, 2009

I can't follow my own rules

Once again I have a plan and I cannot even come close to executing it.

I started off on a great note. I waited until nearly 9 am to make my first trade, and it was a 10 tick winner. Then I took two, 5 tick losers, followed by another 10 tick winner. I was patient, and I was waiting for my spots. Then I had a 30 tick winner, and I was up on the day pretty good. I figured if I remained patient, I could continue to have a decent day.

Oil appeared bullish, so I bought at many different retracements. I ended up losing everything I made and I was down about 5 ticks when all was done. What set me off was that the last time I bought it, I bought the low, but took a scratch and then watched the market rally almost 80 straight ticks. I was fortunate because I was able to buy the eurostoxx, so I had something to show for it.

I dont know what it was, but something set me off and I ended up making just horrible trades. It may have been buying oil, taking small losers and watching it just go where I thought it would. Or maybe it was when I bought the euro and scratched and watch it rally like crazy. This pissed me off so bad. I was so impatient and angry, so I just bought the euro and without a question, I marked the high of the move. I ended up losing 3 x more than I wanted. FUCK.

So then I jumped into oil, added in euro, and took a small losers on both positions. I did it again, and I was just furious with my losers. I kept buying oil and losing. So then I sold it, and every time I sold it, I lost. I heard my own voice telling my to just get up and take a break, but I didnt.

Obviously, you can guess what happened. I sold oil again, watched it rip against me and come back so I scratched. It then sold off 40 ticks where I got out. So I waited for another retracement, sold again, held it agian, and took a huge loser. Of course, after I got out, oil just melted. I smashed my mouse and said some unchoice things, and quit for the day.

I think I am just horrible right now. I cant seem to do anything right and I cant follow my own rules. It feels like I am not making progress and any day I feel somewhat positive, I just get kicked in the teeth.

Here is how simple my rules are. Be patient - wait for multiple reasons to execute a trade. If you lose more than 3 times in a row, just take a walk. I also told myself not to sell lows or buy highs, but thats exactly what I did today. Not only that, I held big losers (something I dont want to do, but seem to do all the time). I jumped from product to product and I had no set ups what so ever. I just clicked and clicked and clicked until I took one big last loser. I really cant stand the way I trade, and I am trying to change, but just failing misserably.

Well, tomorrow is another day. I wish I could follow my rules. I dont know why I cant. So, lets see what happens tomorrow. Right not I want to smash my screens and computer.

I cant sell lows or buy highs and I need to write down my reasons for each trade. I need to slow the fuck down, and get my act together. Holy shit I sound like a broken fuckin record. What a fuckin joke. Why cant I follow my own rules? Why does this job make it so fuckin impossible to follow my own rules? Why do I allow myself to make these fuckin just horrible decisions every day and lose every day. It doesnt have to be like this, yet I cant fuckin stop. FFFFUUUUUUCCCCKKKKK!!!!!!!!!

Monday, June 8, 2009

Monday After Payrolls

I felt this morning that today would lack direction and market participants, especially since it was the first day after Non-farm payrolls. In addition, it is kind of the start of the summer, and could be the start to stereotypical summer markets.

I was fairly patient in beginning, taking a few quick losers, and then I was able to make it all back and give myself a cushion to trade with. It felt good to start off with a few small losers and then have one big winner that was twice as large as all the losers combined. I had done my reading and knew my expectations for the day. I then made a few more trades, all for scratches, and thought I saw something in oil. I was dead wrong, and I ended up selling the low two times in oil and taking losers twice as big as I wanted. I waited for a decent retracement, and sold again, but took another bigger loser than I wanted. I was near my limit, and a little frustrated.

I messed up and was not able to take quick losers. I actually lost 2 x more than the max I allow myself to lose on two consecutive trades. Then on the next trade I lost 3 x more. Ugh, what was I doing. Well, I cut my size big time and just waited. By lunch time I was able to get back to almost a scratch for the day.

When I got back from lunch, I found myself clicking into the market, and as soon as I put it on, I knew I should have waited. Instead of taking a very quick small loser, I just sat there and hoped for a scratch. Instead, the market swept very far against me, and I lost more than half of what I had made back all morning. I figured this gave me good insight, and I would wait for a retracement in the move that just swept against me to get back in and join the trend. However, it was just a sweep, and my initial instinct was correct, and I ended up taking another big loser. I was almost at my limit in 2 trades on tiny size.

I waited for the Apple conference, and watched the stock sell off when Steve Jobbs wasn't there. However, I didn't look at the rest of the market, and while I thought that news on Jobbs would be bearish, I sold the ES and it went up. I took a loser and lost my limit for the day.

This was ok today. I learned a few good things. First, I had terrible entry points - selling the lows. I learned that I need to take much quicker losers, and just get out. Also, I suffered from tunnel vision today, and I didn't take a look at my ancillary markets. This was very evident when I sold ES because I was thinking about Steve Jobbs. In retrospect, it was asinine.

For tomorrow I have to look at my screens and find my reasons. I lacked a lot of thought and patience with my trading today, possibly because I was over-confident from Friday. I know if I keep doing what I am doing, things should continue to get better. Oh, one last thing, I lost my limit today, normally I make my limit and lose 2 -3 times more than I make. It sound so simple, and I hope it is, but I need to keep my losing days small like today, and ride my winners so I make about 3 times more than I lose. That is my biggest step towards success!

Delayed Post - Good End to the Week

I ended last week on a great note. I had some wild P&L swings throughout the week; good day Monday, gave it all back Tuesday, then had a really bad day Wednesday, arguably my worst of the year, and then had a good Thursday. It was nice to finish a volatile week with a good day.

Unfortunately, I was not able to take advantage of the Non-Farm Payrolls report. However, I was very patient and was able to find a little opportunity in oil. I saw the stock market sell off and felt like oil set off stops over $70.00, so I was very bearish. After selling it near the high and making nothing, I waited and eventually bought it. I took a very quick loser, but this was a great loss. I learned that the market was even more bearish than I thought, so I turned around a sold it, and made a great quick trade.

While I was short oil, I was fading the euro. This normally proves to be very very bad for me, but every time I faded the down move and bought, I would get 20 ticks or so into the trade and scratch. I actually bought it many times while it moved down almost 300 ticks. Because I took quick loses and was able to capitalize on a few fading spots, it was ok for me. I have to remember that if I fade, and I take quick losses, and I have my reasons and exits before I fade, I can go ahead and do it. Its when I fade for no reason and I have no exit strategy is where it becomes hugely problematic.

Once oil and the euro sold off very far, and started to turn back around, I was able to buy oil near the low on a retracement, and then add to my long by buying eurostoxx. I held this trade a while , and waited for both products to hit my targets. I entered and exited my trade very well, and before I knew it, I was having a great day. I called it a day after that, I wanted to just leave feeling good and start my weekend.

Some good lessons in there. I can fade with reasons and defined entries and exits. I am seeing the market better. I can actually make more than I lose. Trading is a lot like golf, you may hit bad shot after bad shot and wonder why you even play that game, but one good shot, and you love it more than ever.

Thursday, June 4, 2009

Followed My Rules

Today was a much better day for me. I have come up with a new guideline to help me in my trading. This is something I created, and I use it to slow me down. It helps me prepare myself properly for the day's trading - fundamentally and technically. It is rather tedious, but I find that when I slow down, and force myself to look at many different trading factors, I can analyze them all and figure out what will make a trade a success or a suckers bet.

Anyways, I came in this morning and caught a lucky break with a trade in the British Pound. I never trade the product, so I was thrilled when I was able to make a little on tiny size. From this trade (which was the first time all week I had started the day off on a positive note) it helped reinforce my belief that I must follow my guideline. From there, I did my readings and looked at my charts, and sat patiently. It wasn't long before I found a nice 30 tick winner in oil. I entered the trade because I had multiple reasons. I made a few more trades in oil and the euro, and then found a decent 2 handle winner in the ES. This winner was solely because I was looking at many different markets and was able to see a false breakout while my ancillary markets showed something different. Again, I attribute this to slowing down my trades and looking at the bigger picture. This is something my trading guideline helped me with.

After reviewing my trades, there were two things that really stood out for me. The first was that I had reasons for almost every trade. This made it so easy to take a loser, and a quick loser. I noticed that when I had my reasons, and they didn't work, it was time to exit the trade. Conversely, I made a few impulse trades (its part of my trading personality) and I had no idea where or when my exits were. This was the second thing that stood out for me. These impulses were my largest losers for the day. It was amazing to look back, and see that when I had good reasons I took small losers and let my winners run. And it was even more amazing to see that when I made impulse trades without thought, I had tiny winners and big losers. It is hard to fight the impulse, especially when I miss a big move and I feel I need to fade it because it has become over-extended. Fighting the impulse has become a goal of mine, and I am sure with time, I can fight the urge enough, so it wont take me out of my day.

For me, the hardest part is sticking with my rules. Typically, when I have a good day or decent run, I become lazy and lackadaisical, and it leads to a very bad trading stretch. I need to forget about today, and continue to work on following my rules. From all my reading and research, I have found that if someone can do something for 60 days, it will almost always become a habit instead of a chore. Its like going to the gym, the hardest part is starting to go, but after some time, it becomes a habit and a part of your personality. I am hoping that I can take from my readings and translate it into trading success.

The Importance of Following You Rules

I told myself the other day that I was done taking big losers. It's been a problem that has plagued me for years. I had one goal, and that was to get out of my losers quickly. I managed to follow my goal well, and even though I had another losing day (which happens in trading) I consider it a success. The good thing from the day is, I was able to identify something else to work on. I took a look at all my trades for the day, and the one good trade I had (one of the few winners) was when I sold oil because I waited for a retracement in oil, ho and rbob. I had many reasons to sell it, and I was patient with my execution.

After that I trade, even though I was long ERY (a triple short oil etf) I kept buying oil at points I felt were acceptable. I had some reasons for most of my trades, but as I watched 20 tick winners quickly disappear, I became agitated. I kept buying the whole way down, and after 15 - 20 losing trades, I had taken enough small losers to finish down at an amount I was comfortable with. While I faded the big move in oil, and even faded myself (long ERY) I can come in the next day and work on my patience and avoid fading the trend.

I can work on identifying ancillary markets and finding multiple reasons to trade. I am going to work on a guideline sheet to follow every day. I hope by following this, it will slow me down, help me stay out of the market when there are not great trading opportunities, and provide a sort of outline to my thoughts. This should make it easier to develop more of the good and watch out for the bad.

I must also remember, this is a race, not a sprint. I need to learn more from mistakes, take decisive action, and move forward and improve. This is a test and the low point of my career thus far, but after reading and re-reading Market Wizards, many great traders had numerous set backs . . . and they survived their blow ups and defeats to see brighter days.

Tuesday, June 2, 2009

Self Sabotage

I am my own worst enemy. I am the only one holding back my own trading potential. Today I made the same mistake that has kept me from progressing over the past few years. I hold losers until they are so big, that I have no choice but to puke them because they are so crippling to my account. Not only that, but I am losing more than 3 times than I make on a decent day. I just make it so bad for myself, and making it so much harder than it needs to be.

I still cant figure out why I do it. I believe I am so desperate to kick start this trading slump that I am willing to hold losers until they become winners. I do this because I just cant stand losing anymore. However, this is proving to be absolutely horrible, because all I keep doing is making it worse and worse for myself. My problem is that I have to get out because my losers are adding up and it is becoming nearly insurmountable.

Every day, I give myself an amount of capital to trade with. Lets say I allow myself to trade with $1000. Well, on a good day I am making about twice what I allow myself to lose, but on a bad day I am losing between $3000 and $4000. My ratio is looking like 1.5 : 4. What I need to do, to make money and grow my size, is change this around and get my ratio to look more like 3 : 1.

I am starting a new strategy, one that I feel will be more profitable. After looking at all my statistics, I am temporarily stopping my equity trades. In the last month, they have led to the biggest losers. From looking at my stats, I am only making money in oil and the euro. This is the part of the market I need to focus on. I am at a point where the pain from trying to force my equity trades is so detrimental that it is taking away from everything else.

Obviously, I need to stop taking massive losers. That is my absolute biggest problem.

Tomorrow is a new day, I need to take what I did today and try my hardest not to repeat it. Self sabotage is my current track and its time to change courses. I pride myself on saying that actions speak louder than words, so its time to put up or just shut up.

Monday, June 1, 2009

Good Start to the Week

Today was an interesting start to the week. When I came in this morning, there was very bullish Chinese data that had rallied almost every global equity, commodity, and currency market. In addition, the cash sp made new highs and moved past the 200 day moving average. Clearly, the market had a bullish bias. I had a horrible night sleep last night, all because of thunder and lightning storms, so I was on edge very early.

I was patient this morning, did a lot of my readings and looked at my technical levels. Oil was up over $1.25, trading around $68. I waited until the release of the US ISM data at 9am to make my first trade. The number came in right around expectations. I tried making a trade off the euro, but I was too early in my execution, and I traded too large of size. I made the mistake taking too big of a loser, when I could have clearly gotten out sooner. This immediately put me near my limit. I lost way too much of my trading capital on my first trade. I had 25% left and to make it last, I cut my size and waited for good set up to ensue.

I made a few good trades, and a one or two just absolute bonehead mistakes, but by lunch time, I had made back everything I lost. What I need to take away from all this, is that by cutting my size, and staying disciplined (well, relatively disciplined) I was able to get back to even and put myself in a position to take advantage of the markets later in the day. Most of the time in the past, I chase my losses and end up losing a lot more that I had planned.

Typically, from my all my reading, I have seen that when the market opens up past R2 (second level resistance from the pivot) the market trends all day. I kept this in mind and tried trading from the long side all day, especially after taking a long break over lunch to recollect my thoughts. I finally was able to get long oil and trade it as it made new highs for the day.

There are a few good lessons to take away from today. First, dont risk more than you can stand to lose on any one trade. This seems obvious, but it is a problem I, as well as others, have. It is easy to say that the market should or shouldn't do this or that, but thats not important, whats important is how I (or you) react to what the market does. The biggest mistake, the one that takes me out of my trading the most, the one that led me to have the worst trading of my year so far, was when I held a loser when I thought the market shouldn't be doing what it was. When I trade well, I just react to the market, and if my position moves against me, I just get out.

The second lesson of today is having good reason for each trade. Again, this seems obvious, but it isn't so easy to follow. Many times, I hear that a market has gone too far, and someone decides to sell a rallying market. I am guilty of it. The question is, where are you wrong? If you sell it after it breaks through a resistance level, and elects stops, and hits an old hi, then there is resistance and reason behind your thought. Clearly, you have to execute the trade well, and know what you are risking. When you have reasons, typically you clearly know where you are wrong, but when you just sell a rallying market because you think its gone too far, you risk too much. Where are you wrong? If you aren't sure, then it becomes hard to get out. One might get away with this a few times, but as one keeps fading and letting trades move against him, inevitably one always get away.

One great thing I realized today was that if I cut my size and look for those good trades, I can make back a lot on smaller size. Not only that, but I ended up having a good day because I put myself in a position to take advantage of trades later on in the day. I figure there are several good set ups a day that if I am patient, I can take advantage of them if I am in a good mind set.

For tomorrow I need to continue to do my readings and wait for logical setups. Volatility is going down as the market continues to grind up. It becomes harder and harder to buy the market up at these levels, but it is also hard to fade and sell it. By staying disciplined and patient, I am sure there will be opportunity tomorrow. Keep following my rules, do my preparations, and look for those good spots.