Tricks of the Trade : Peterson/Manz Trading, Inc. Trade Log Jan-March 2003

Only by tracking your trades can you gain perspective on where you have been, and only then can you direct where you are going. Knowing why you selected the stocks, which trades went in your favor and which did not are key elements in developing a successful trading business. We all tend to revise history, either elevating the winners to larger than life proportions, or more likely, focusing on the negative outcomes such that we remember losing trades to the exclusion of the gainers. Journalizing is a well-recognized method used by professional traders to cut through the distortion and document exactly what happened with each trade and why.This first volume in a series of trade logs offers valuable insight into the day-to-day operations of a professional trader. Here is an opportunity to look over a shoulder intraday as a game plan is carried out. All of the triggered trades specified in the Peterson/Manz Trading, Inc Intraday Trading Plan during the first quarter of 2003 are chronicled here. In this log we show the setup from the previous night, with target entry and exit prices, support and resistance levels, a daily chart showing the pattern setup, as well as an intraday chart with commentary on what happened as the trade triggered and what our decision process was in determining the exit.We offer this log as an educational tool. We hope you will enjoy looking over our shoulder. Creating this log has been an invaluable asset for our development as professional traders.Manz, Adrian is the author of 'Tricks of the Trade : Peterson/Manz Trading, Inc. Trade Log Jan-March 2003', published 2003 under ISBN 9780974765310 and ISBN 0974765317.