Monday, July 26, 2010

Victoria Concordia Crescit

Victory! Today I had the best P&L day of the year. On July 14, I was stopped out of my NG position at $4.34. Then on June 15th I watched NG rocket up from 4.31 to 4.60. Needless to say I was upset.

On Friday July 16, I decided to get long a double-digit amount of ES (E-mini SPX) contracts at around 1070 with 1100 price target in mind. By the close my position was underwater 1%. However, I learned my lesson from the NG trade and stuck to my guns by setting a looser S/L. This increased my risk/reward ratio, however, I felt very confident my position would rally.

Last week, I monitored my position less frequently than normal, as I was in Japan conducting some business with my partner Clark. Thus, I adjusted my stops accordingly each day and was able to let my profits ride. On Friday, I thought about selling but decided to juice my trade out until the resistance levels of about 1110.

Today, I made the right decision. I locked in a 3.6% profit. Weather or not my position continues to rally is irrelevant. I am proud of my ability to macro-manage my trade with careful risk management in place. This was not only my best P&L day of the year, but also my most disciplined trade.

I owe this successful trade not just to myself but also to my family, partners, business associates, and fellow traders who helped me clarify my thoughts everyday. Thank you all.

Music Selection: If you are into Hip Hop music I suggest Rick Ross’ new album Teflon Don. Up-tempo and soulful sound mixed with hard street bangers. Maybach Music.

Related ETFs: ProShares Ultra S&P 500 (SSO:US), SPDR S&P 500 ETF Trust (SPY:US)

Patrick M. Ambrus
Analyze Capital LLC
Twitter: AnalyzeCapital


  1. congrats on the awesome trade!!! you gonna be a great futures trader before you know it. Great risk management! keep up the good work!


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