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Thank you Cashish for your generous and encouraging message! I definitely appreciate the positive atmosphere at Big Mike's!
Trades: 1
Plan Followed? Yes
Daily Trading Goal: My opportunity for today is the Opening Range Trade in Crude Oil. My goal is to be deliberate in executing one action at a time in accordance with my planned procedure and checklist -- and accepting my outcome while judging only my actions (the factor I can control).
Best & Worst: My best trade was trusting my plan and accepting risk today despite feeling risk adverse at the end of the day yesterday. Today's outcome was a small loss, but I gave myself a chance to profit without compromising my positive week.
Daily Trading Goals: The USDA Crop Production Report comes out at 11:00 a. m. CST. This is a release I trade. In taking this trade I want to remember that no outcome is guaranteed. I can only take correct actions according to my plan and judge my performance accordingly.
Best & Worst: I executed my trade according to my plan and was rewarded with a small profit despite being on the wrong side of the market.
Daily Trading Goals: I'm looking for the EIA Petroleum Status Report trade today, as well as planning how to wind down the remainder of the year's opportunity.
Best & Worst: My best trade was allowing myself 15 minutes after my ladder was setup and before I executed my trade to be quiet and still and calm my anxieties.
What Did I Learn Today? One portion of my trading plan which has proven repeatedly valuable is the idea, "If I don't feel confident for any reason I will be happy not taking the trade."
Daily Trading Goals: On 12-3-2013 I wrote in my long-hand trading journal, "Trading is a simple task. Don't complicate it with excessive thinking. Just perform each task as appropriate according to the plan." This idea served as my goal for today.
Best & Worst: My trade was simple to execute, but difficult emotionally -- difficult to be patient through slow holiday markets for Christmas and New Year's, and difficult to re-enter the flow of trading. My best trade was taking correct actions any way.
What Did I Learn Today? A conversation with fellow traders yielded an idea I want to back test: the overnight price action in CL may be predictive of price action at the pit session open and help me determine which days might favor the Opening Range Trade in Crude Oil.
Daily Trading Goals: I plan to trade the EIA Petroleum Status Report. If I make enough money, I will try to exploit my advantage by trading the Opening Range Trade at tomorrow's Crude Oil pit session open. If I lose today, I will not trade tomorrow so as to limit my losses for the week.
What Did I Learn Today? I discovered through an execution mistake that the "pull all orders and flatten all positions" button and the "pull all resting orders" button are located in different places on my live version of the T 4 platform compared to the simulator version of T 4.
Best & Worst: I am disappointed I didn't profit more from today's trade, but in view of my execution mistake I feel fortunate to have "lived to trade another day".
Daily Trading Goals: Today is the EIA Petroleum Status Report trade. I've thought and written in my trading journal about this trade and I am clear in my mind how I want to approach it. My goal for today is to execute my plan without second - guessing or deviating.
Best & Worst: My best trade today was taking the difficult -- but correct -- step of surrendering funded account privileges in favor of the TopstepTrader Redevelopment Combine. I am disappointed, but trading is a process and taking correct actions will move me forward faster in the long run than trying to deny reality.