2 trades today. Unfortunately neither went in our favor. First trade we ended up with a small loss, second trade stopped out. It’s ok, days like this come and go, we have to stick to our trading plan and continue taking trades that come out of the strategy and system. Days like this are what disappointed and make new traders emotional. You have to learn to control your emotions and know that NO trading strategy or system can have all winning trades. Just impossible! Manage your losing trades and accept them as cost of business. This is how profitable traders think about trading.

Just 1 trade again today. Finished with about 3 or so points profit on the emini NQ. I was up a lot more, but the conditions to get out were not there and gave up some of the profits. It’s ok, better in the plus than negative. Traders remember, in order to continuously make money and be profitable, you do not need to hit home runs all the time. Base hits will do, slow steady returns is what we are looking for, not get rich quick.

Great way to start the week. 1 beautifully profitable trade. Finished early and went out to take care of other things. There are days when you take a trade and they don’t feel good in your gut, but they are part of the trading plan, so you must obey and take the trade. Today was one of those days, I didn’t feel good about the trade, but it kept going in my direction and ended up getting out with nice profits. Overall, it was a very low volume day and since dropping down towards end of October, we have recovered back nicely. I wonder if this will last.

FOMC day today. You always have to be extra careful on FOMC trading days. I had 1 trade today, went against me for a little bit then market turned around and I finished nicely up. So 1 profitable trade. Today the markets opened up pretty strong. Almost all the eminis were above their R1. They made an attempt to go down, but there was plenty of support and we moved higher. As I write this, the FOMC news has been released and right now markets seem poised to move higher.

Had 1 losing trade today, but overall am glad to have finished a very profitable October. This was one of the best months. Most people who lose money day trading do not understand the fact that you do not make money everyday. If anyone believes or wants to make money everyday, they will fight the markets and over trade resulting in bigger losses. Trading is a long term game. Don’t take yourself out early.

2 trades today. 1 with a tiny loss and the other nice profit. Nice up day overall, one of those days where you can get into a trade and hold one for the rest of the day. But of course you do not know that until the day is over. Some days are just strong up days and there are some signs that will let you know it is a better idea to be long rather than short that day. Do some reading market internals! The TICK ($TICK), VIX ($VIX) and the advance/decline ratio ($ISSU). These symbols are all for eSignal.