Short 2 S at 1346.50

Results:
+2 and +8 or $500 (before commissions)

Short 2 S at 1351.75

Results:
+2 and -1.5 or $25 (before commissions)

I manged this trade wrong. Usually after T1, I move stop to b/e + 1tick, and I thought I did. $75 for another lesson from the market. :(

Short 2 S at 1338.75

Results:
+2 and +8 or $500 (before commissions)

I was not sure about this setup because Wheat was limit-up and only about 30 mins left, in which people who stuck shorting Wheat might buy Soybeans to reduce their risk. However, I did like the pattern that Soybeans came off its high (almost limit up), so I took the trade and it turned out well.

Still sitting on my hands

There is usually at least one or two markets that are standing out, but lately I've not seen anything special, so I'm standing aside. I used to get bored and did many implulse trades that only resulted in tons of losers. I was in fact suprised at myself becoming more profitable as my trading frequency goes down. It takes so long to build a good account, but takes only one bad trade to wipe everything out!

By the way, Lumber finally shows a bit of strength, but still too early to say. I think that demands for Lumber is not as good as when housing markets wer hot, so I have to see. On the other hand, the spread trade is just not doing well. I look into adding around $32000 level ($5K from the initial entry).

Monthly Total - Jan 2008

Day trading account: +$576.86
Swing trading account: +$4.68
------------------------------
Total: +$581.54

I did only handful day-trades this month. Luckily all turned out to be winners. I will eventually have a loser, but I will keep it as small as possible (less than $200 for YM and $400 for grains).

Not much on swing trades. I entered three position trades in two markets. As I will roll-over in Feb, I'll probably have to report losses even if they are still considered open positions. My drawdown is about $4500 (yikes), but I will show you how they will be profitable in 6-month to 3-year term. Thoses are, again, long term trades, so I don't worry much.

2008 Monthly Profit / Loss

2008 Monthly total breakdown

Month/ Liquidated Value:

Jan: -4597.52 
Feb: -7755.11
Mar: +4715.89
Apr: +3850.93
May: -2320.69
Jun: -4094.61
Jul: +14323.24
Aug: +8483.69
Sept: -8565.88
Oct: -5702.21
Nov: -1981.79
Dec: -2013.00

Total liquidated value: -7498.56

Month / Closed value:

Jan: 1525.98

Feb: -6622.79

Mar: -2539.93

Apr: 4109.93

May: -2787.69

Jun: -4093.61

July: 4399.24

Aug: 19098.09

Sep: 415.08

Oct: -1335.21

Nov: -12277.79

Dec: 4004.38

Total Closed: +3967.17

---------------------

Long 2 S at 1292.75

Results:
+2 and +5.5 or $375 (before commissions)

Took a bit of heat, but I did trade my plan. In fact, I let my 2nd target run a bit more.