back again

After having a turbulent trading experience in late 2008, i spent a lot of time analysing my trades to find out where my problems in the last weeks of december came from.
For that purposes i used ms-excel to analyse the trading time, the size, the frequency and i visualized it. The visualisation is the most important point here.

To make things short, i overtraded again. Motivated from my novembers performance i fell back into my old trading style and just traded to much. My gross profit was quiet never in the red, but the net profit was melting down day by day.
I found out, that for myself, the most profitable time is the first hour of trading. While using higher time frames i´m too unpatient to let the trade play out, i cut the trades to fast and for some reason i´m not able to manage them yet.

So i´m back in trading the setups i´m comfortable with in the 5 minute / 1 minute combination.
I´m also open to establish long positions again. For the rest the common rules apply.
For longs i´m looking for higher lows, heavy bases breakers or nrib-breakouts.
For shorts i´m looking for lower highs, heavy base breakers or nrib-breakdowns.
I´m trading more selective and my Risk Revard Ratio is allways at least 1:2 if not 1:3.
I prefer clean candlestick formations and low spreads. I also prefer stocks that trading outside the previous day trading range but like i allready mentioned i´m not longer focused on the short side only, because there are so many nice gap fades and also strong gap up plays.
The most important part is, that i stop trading 60 Minutes after the open and use the time after that to make my chart log´s in detail for later reviews.
I also use ms-excel regulatrly to visualize my trading results.

This rule setting is less fixed but still someting to stick to.
I´M BACK TO TRADE THE RULES