Thursday, 7 July 2016
Trading Review: 07-07-2016
Gross PnL: +$192.
After Commissions: +$164.
Really frustrated with shitty brokerage. Won't let me route to an exchange (seemingly randomly) and therefore I aren't sitting on the order book; and therefore I aren't providing liquidity (or getting super good liquidity providing entries). Every ticket today was a liquidity providing ticket, but was withheld and then marketed when the offer/bid came to better than or same as my price. Had to stop attempting to scalp because the edge I had was gone with no liquidity providing.
Narrowly missed the long on LEDS at $4.70. Spread was like 40c, so no point taking it at market. Obviously hindsight it would have worked, but was correct decision at the time.
The scalps I made were definitely fomo driven, but were also structured and executed pretty good to maximise probability of success. Indeed, they never really gave me any troubles.
LEDS set up later in the day for a super clean trend trade long, but by that time the buying power was limited; so I couldn't partake with enough size to warrant making the trade. Another potential home run trade missed, but it's good for me to get rid of all this fomo surrounding missing home run trades. Slowly developing the right attitude to be comfortable missing big trades if they aren't fulfilling all requirements, example being in the morning on the long. When the brokerage forces me to miss out on one, you start getting used to watching them, instead of getting excited about them.
Preparation: 7/10
Patience: 6/10 (really patient and no fomo missing the home run trade, but the scalps weren't the greatest)
Risk-reward: 5/10
Discipline: 6/10
Flexibility: 7/10
Greed: 8/10
Over-trading: 8/10 (the scalps were somewhat over-trading, but really happy that I identified when to stop)
LEDS:
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