Monday, 21 March 2016

Trading Review: 03-21-2016












Main Account: -$431.

Today is the first "good" losing day I've had in a while. There were plenty of mistakes that I will go through later, but:
(1) Hit all my stop-losses as per plan.
(2) Was a losing day that didn't hit max drawdown. I didn't tilt out like crazy and bring it up to max.
(3) Took off HOT when it proved me wrong, despite nowhere near stop. I really liked the flexibility this showed in the heat of the moment.

Anyway mistakes made:
(1) Too hasty on getting full size on the open. Had quite strong conviction on NUGT but it behaved unexpectedly and took two decent size stops. If I hadn't taken those stops and had been prepared for opening pop (as I usually am) I would have been done for the day at 10am, instead of taking two $200 losses. The solution here is something like take the first loss, but be more patient on the second trade, let it prove itself. As it was, I was stopped at the high on the second trade.
(2) Failing to switch from open mode to middle of the day. Did a lot of switching of bias, and taking a lot of stops.
(3) Took some unnecessary trades resulting from tilt creeping in.

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