After a nasty finale to last month pretty important to rebuild.
Two reasons for this:
(1) Want to ease away from becoming financially pressured - without putting on too much risk.
(2) Rebuild some psychological capital so I'm not jumpy.
Why do I need to rebuild psychological capital?
The loss on BTUUQ was from being stubborn. As a direct result of that; the $5000 loss on NSPR this week was a result from over-trading due to tilt - directly resulting from the BTUUQ stubbornness. I would have made money shorting NSPR in my optimal state.
For the first week I will aim to do $400 a day and then leave for the day. There is no exception to this. After the first week I'm willing to change this up a little. But I'm not entirely sure how I want to do this. I know for sure that I want to spend most of the month targeting figures; and indeed perhaps a decent portion of next month as well.
An idea for how I might change it is: $400 target, unless niche setup; then try ride 1/4. Perhaps adding back when risk is tight and there is no risk to PnL. If niche setup pull out at $1000 etc.
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