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Draw a graph of your P&L on a daily basis or weekly basis. The graph should look
just like the chart you are trading. when It is ratcheting up you are OK. When the
trend turns down. It should trigger a stop just like a trade. Exit everything and
step back and take a look at what you are doing and what has changed. Is it you or
your system?
nwinski wrote:
> Bob simms wrote:
>
> > I have had a similar problem with my system. It had a very bad week,
> > however, it kicked butt today:) My system depend on trends on the Spoos. I
> > am a new trader too.
> >
> > Bob,
>
> Don't mean to rain on your parade, but every veteran trader knows that big
> profits for a new
> trader are like free drinks at the casino in Vegas. If you find yourself
> annualizing one day's or one month's earnings, its time to take a vacation. This
> is a sign of overconfidence. "There is plenty of time
> for countin', when the dealings done".
>
> Best Wishes,
>
> Norman
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