Net PnL: -$475.
Another short day where I was done for the day very early. Again size of loss is too big.
Today I did something really good that I'm quite proud of (amongst many mistakes). I was short GLBS; and was 99% it was going to go down (I was just early); but I ended up hitting out according to my predefined plan. Really happy with this discipline, and getting punished for a bad trade (instead of hanging on and eventually making money - reinforcing bad habits).
Sub goal for tomorrow: Want to actually last the distance. Keep being done by 10am, even 9:45. Just slow down and last the distance! The opportunity is there!
Mistakes:
(1) CBDS was a bad trade. The level was clean but not a level to try a tactical short against the open. I had even noted that I didn't really want to short until it had gone red on the day. If midday this trade would have been fine.
(2) Wasn't quick enough on the CBDS stop. The edge on support/resistance plays is being able to have a clean and tight stop. Funny thing is that I wanted to be (swing) long above $8.25.
(3) Too much size on both trades. Both were max size. I should only be max size when it's a super good setup. Otherwise nothing wrong with risking $20 to make $50.
(4) Not happy with the second GLBS trade. By this time the volume was there; so it made sense to wait - but that's more a read issue.
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