December 11 2009 Weekly Commentary

CHECK OUT THE 3 VIDEOS POSTED EARLIER IN THE WEEK IF YOU HAVE NOT ALREADY

There is no overlay today because I did not fully complete my prep work this morning due to Ninja Trader data issues.

I was going to write about how ridiculous it is but it is just simply not worth the energy. I have talking about this problem for 2.5 years and still no resolution.

I did not have any trades today. I was ready to execute had there been some action but could not get excited about the tight range that formed.

It was a fairly slow trading week for me. I believe that I did everything I could. My goal is to put myself in position to hit the big moves that I am able to project and I did that.

Also, I stayed away when there would be no significant move. My strategy has been very precise ans well executed.

I am higher in equity than when I started this week.

I only took very premium entries that had the opportunity to open up to be big winners. Sure there were smaller opportunities but I am of the mindset recently that it makes no sense to risk 2 or 3 points to make 2-4 when I can wait for a premium setup and risk the same amount to make 10-15.

I am leaning towards making bigger bets on premium trades rather than many smaller bets on trades with various winning percentages.

If want to take more trades I can and I will.

Some need to trade for the sake of being active and that is OK. If I add up all my trades that are questionable or "not premium" based on my current standards I think the PNL would be break even at best.

I am up over 36 points in the past 6 weeks on my one-entry and one-exit trades tracked on this blog with a max draw down of 5 points and less the 2 points in the past 3 weeks.

I will take those stats. It is ok if I am only seeing one premium entry most days and none at all some days.

I think I am naturally filtering out all the noise in the market and hitting what I feel is right. It is working and that is a milestone.

This is the level of trading that I have been working towards and now the hard part will be maintaining and improving on it.