May 31, 2008

Net: -$27
Stop Loss: $50
Frame of Mind: Try to make $50 just scalping, doing anything.

I’m going off to Bali for a vacation. I’m taking the time to re-evaluate the past trading year, that has been unfruitful in the monetary sense. I did learn a lot about the markets and how the stocks behave, patterns and all that. I’ve also tested hands on several different strategies over the course of the year.

However I failed to make a very detailed study of my trading.

I realized that my circumstances call for a more efficient time at the trading station. Make a few trades that are really good and has a great reward ratio. Will also need to define exactly my entry and exit criterias, follow the plan strictly and then analyze the trades after 20 trading days.

Need to quantify my edges and mechanize the strategies. That is the way to go.

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