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May 23rd, 2008 by eyal | Filed under Day Trading. |
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May is shaping up to be a pretty slow month. Been trading as usual but making very little progress. Mostly back and forth with profitable and losing days and I’m just a little over breakeven at this point. Except for one or two occasions all days were traded on plan and no major misses / mistakes etc. made. I also missed a few days on account of vacation + internet outage. But generally there’s just less follow-through as far as I can see which isn’t very conducive to my trading style. I can’t tell in advance when markets are flipping / contracting and I should lock in profits early and when I should just sit back, ride the wiggling out and let profits accumulate. I don’t know if there is a way to improve on this or it’s just the way this is. Kind of I don’t know what I don’t know, if there is something to know :-) I have some ideas I would have liked to test with regards to market internals and indices action vs. performance and follow though in trades but it’s quite difficult to do given my programming / data manipulation skills (actually lack of..).
I’m also still keen on continuing to work on futures trading which I see as a long term investment of my time. Futures are a lot more scalable and trading them would address the limitation I have with increasing my R size vs. slippage incurred. I’m having a similar predicament to the last time I looked into this early in the year and that is the overlapping time, i.e. I can either trade stocks the usual way I do, or trade futures during that time, but not both. Unless I go with foreign futures like the DAX which seems a bit expensive to test ideas on. Maybe I’ll do stocks in the morning and futures in the afternoon. We’ll see.
