Tuesday, 24 January 2017
Trading Review: 01-23-2017
Net PnL: -$273.
Pretty dumb day - I thought I had made good progress towards some of the mistakes I made last week. Today the big mistake was trying the same trade over and over again. If I had taken one or two smaller stops; then waited for it setup the trade would have been flat on net.
Other thing is that if I had been super tactical/patient on entries, there were some easy flips available OR at the very least some super low risk entries (compared to the ones I took). Zoomed in picture attached, with spots circled.
Oddly I didn't feel tilted about this trade (which is usually the case when I chew up a lot of money taking the same trade over and over). It was a case of believing in my thesis and trying the same counter-trend trade over and over again (which shouldn't be done).
Again tomorrow, just slow things down!
(1) Slightly smaller size (especially on open).
(2) Focus on the range trades until 10:30.
(3) Don't try the same trade to get stopped out over and over again.
(4) Get stops in quickly.
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