Saturday, June 6, 2009

Finally Positive Week Ending

Total Profit $150++

PAP worked well, not fascinating but well enough.
I did concern about my losses these days. 1 Loser equals to 4 Winner. What a waste of time.

I breakdown my self analysis and came out with some hypotesis:

1. Profit Taking Too Early
2. Cut Loses Too Late
3. Averaging Up
4. Averaging Down
5. Too much contract

And the review of first week of June's market:

1. Choppy most of the time
2. Low volume ( GS )
3. Slow-Short Price movement

I recognized on Tuesday big lose not to repeat the same mistakes, and it pays. But again it's dangerous to hold your losing position too long.

Okay, here's my homework for next week market:

1. Recognizing market type fast. Is it trending,choppy,ranging (wide or narrow)
2. Setup strategy for those kind of market
3. Filtering Strong Stock ( I found AMZN, next... )
4. How not to lose too much ( losing $545++ at 4 hours is a not-funny-joke )

There's some obstacles:
1. Cash Account is like playing arcade machine with coin, when you spent it, you have to wait for tomorrow. It affect my mental and mind set. Imagine when you're losing, saw best setup ever in your life and then BAM!!!, not enough funds...Sh&# !!
2. My day job keep devouring my physic, mostly I just attend half-time market. I know the opportunity is on full time market especially when trending..sigh, again I hate my job.
3. My debt keep haunting me.

Next week target is I want to fulling my trading pot. Still I withdraw $50 daily wages. Then I need to win at least $600++ in one week. No Boombastic Target, just fill the pot full again.

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