Week 16 Goal Planning Session


     This week we only have 4 trading days with Friday being a market holiday. $2k should be possible although I'm at the level where I am expect and should be making $1k days consistently. Consistency would be my biggest problem as of this moment. My P&L has become extremely volatile and I need to take a step back and hone in my skills. I have become much more active in using the tape to help me find buyers/sellers, although I need to recognize it as a separate trade and need to release that extra size when the tape slows down. Also several times this week, I've had to battle back from being down $1k. What are the odds that I'm going to make a lot of money then? Not very high. I'll be much more active/aware about what stocks/trades I'm getting into and evaluating my trading as the day goes through.
     This week, I raise my Max Risk Per Trade to $250 (although occasionally if all the stars line up, I will risk double that).  In addition, I've also established a trade based on held bids/offers. I am able to risk a max amount of $50, which means that I may risk .02 on 2500 if a firm level is holding. In addition, I think this will also help me get out of my winners quickly when I can see a supporting bid drop and/or get exhausted. I look forward to updating you guys more as the week progresses. I've also taken the huge leap of giving up Facebook so I can spend that 6-8 hours on reading, writing, or something much more productive for my career. If you're interested in my live calls, you can follow me on twitter/stocktwits at "jaynustrading." Goal for the month is still $5k. With 9 days to go, I'm currently short about $3600. Plenty of time left, let's get it.


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