Weekly Wrap 10/9-10/13

I made $1907.38 for the week. My performance is improving this month as earnings season is picking up steam. I get this opportunity once every 3 months so I got to take advantage of it. I have been looking at my performance and I know I have to continue work on two things.

• Letting my winners run


• Getting more aggressive when I see high quality setups

I already have a ideas on improving my weaknesses, but execution of those ideas have been inconsistent. Sometimes I manage to ride my winners but most times I lose my position by getting shaken out or by taking profits too soon. In order for me to improve I need to have clear cut rules for entries and exits. Rules will help me get my emotions out of the picture, so the main thing that I have to do is to control myself and let my system dictate my trade.

Here's an example of a way to ride profits. If I follow my rules the main thing I have to do once I get into my position is move my trailing stop up to lock in profits. Sounds easy but I have difficulty doing this even after trading for a few years. I have to practice this daily until it becomes a habit. I got to focus on the trade, not the money.