Main Account: +$3183.
Back Account: +$9878.
Coming into today I had the thought that I wouldn't trade, and would take it easy because I was a little overdone from the prior days. I only showed up to take advantage of some really good opportunities. And of course there were two really solid opportunities (PBMD, ONTX), which were nearly exactly the same as the setups that have occurred all week.
However, aside from the perfect setups that occurred on ONTX and PBMD I put too much size into other non-perfect setups which is a sign that I am not focusing on the disciplined side of trading. So this week, number one goal needs to be to keep the profits from this week. Trade everything small and focus on the max drawdown of $200 unless the perfect setup occurs again (which I would add seems likely given there was one or two every day this week).
I think this week really emphasised the importance of narrowing down my "playbook" and honing in on the amazing plays that I am happy to load up in.
A note on PBMD. Because it's a low $$ play important to focus on scaling entry over time and price in order to control risk. It is very difficult to get a good risk-reward purely by an initial entry and stop-loss.
No comments:
Post a Comment