KISS – Keep It Simple Stupid

At least for day trades, the simpler the system the better.  Decisions can be make more quickly and automatically.   Too many indicators, support/resistance, time frames, etc, would bog down the decision making process and make one less disciplined.  It’s common to take out a stop order because another support is just below.

Today I had a rare good day.  Profit-wise it wasn’t much – like $256, but most trades went in my favor, mainly small scalps.  My portfolio value also went up despite existing positions in SDS and QID.  I suppose taking half of them out last week was a good idea, so far.

It was a good thing that I decided to just paper trade the CME option yesterday.  Earning before market open today and it disappointed.

I’m currently waiting for a number of setups to play out.  One of them is DAKT and the other, MUSA.  DAKT has been a high flyer and is forming a bullish wedge.

MUSA, the long laggard IPO has a thin zone waiting to be filled if the week finishes above 16.

Portfolio value: $139,150.

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