Gross PnL: -$226.
Net PnL: -$272. $8 in borrows.
Disciplined day count: 17
Was a massive gap up in the market today. Ended up having the wrong bias for most of the day, which didn't help; but overall still just not entering at the prices I should be entering at. In part due to bias (and some fomo).
That being said, I feel like if you're going to have a bias; today was the day to have that bias - so let it slide for today.
As usual did a great job of keeping things tight. Didn't take profits quickly today (because of said bias), but probably would have made money if I had taken profits.
A big standout from today was two things:
(1) DELT I realised that I was in a pretty much no edge scenario and got rid of trade.
(2) LRCX I stopped before my stop was hit because it was a very obvious stop.
May not seem that advanced, but is a pretty big step forward; when you consider that I was quite tilted by things going wrong in the morning when I took these off. The temptation to break discipline or hope for a big winner should have been quite high.
Just a food for thought thing: I have found that taking profits quickly helps my consistency. One of the main things is to be consistent about roughly where you take profits. Today I took profits quickly on OPTT, and didn't on TVIX. A home run on OPTT (as it turned out to be) wouldn't make up for the lack of winners elsewhere. And OPTT did provide re-entry possibilities a bit lower.
So. One losing day is not the end of the world, but a very good reminder that I need to stick to my processes. That is:
(1) Pick prices and stops for entry. Don't try to enter on sign of trade working.
(2) Take profits quickly. Reasonable chance a re-entry will be provided.
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