NBIX, ERTS, NRG, JDSUD

A pretty choppy day out there today. I was looking mainly short in the morning but there weren’t that many candidates. I was eyeing WFMI, NBIX and AQNT. NBIX triggered first but it didn’t quite look right so after an hour or so I scratched it for -0.4R. I then entered 3 longs which did ok-ish. ERTS closed for 1.1R, NRG for 1.5R and JDSUD for +0.4R. I took partials in both NRG and ERTS but in the end they in total it didn’t make much difference. The end result for today is +2.6R.

I’ve recently upped my R, maybe by a bit too much so I’m still working on adjusting mentally to the new magnitude of intraday up and down P&L swings. It’s never easy to increase size and especially since I’m now regularily in the territory of a few times my day job’s daily amount. It’s tough seeing 3-4 days worth of salary evaporating or going into the red. I have to keep reminding myself how I’ve traded so far. At some point today I wanted to just close all trades and call it a day but then I asked myself would I have done that 2 weeks ago? And the answer was no, and so I’ve stayed the course. Hopefully I’ll be able to resist temptation to change my rules when it’s not called for.

Here’s a screen shot of one of the trades:

Other possibly related posts:

• links for 2008-08-13 [delicious.com]
• New internet connection
• links for 2008-08-19